Revenue Scotland takings up 11%, annual report reveals
Revenue Scotland raised £707m in land and buildings transaction tax (LBTT) and Scottish landfill tax (SLfT) for the Scottish Consolidated Fund during 2017-18, according to its annual report published yesterday.
The total was up by £74m, or 11.7%, on the previous year, and includes £557m in LBTT payments and £148m in SLfT. Its compliance work increased tax revenue by £2.36m, up by £400,000 on the previous year.
Penalties and interest payments for late LBTT returns or payments were significantly down, from £573,000 to £393,000.
Running costs were 0.78% of revenue, up from 0.7% in 2016-17.
Revenue Scotland chairman Dr Keith Nicholson described the figures as "underlining the importance of devolved tax to support Scotland’s public finances".
He continued: "We have also now completed our first three-year corporate plan and commenced delivery of the 2018-21 corporate plan. As we look to the future, we have drawn on the knowledge, expertise and experience gained in our first three years, and the views of our stakeholders, to ensure Revenue Scotland continues to further progress our record of an efficient and valuable tax authority, collecting and managing fully devolved taxes and serving Scottish taxpayers to the highest standards."