On 19 August 2014, the Scottish Parliament approved the Revenue Scotland and Tax Powers Bill which formally establishes Revenue Scotland as the tax authority responsible for collecting taxes devolved under the Scotland Act 2012. Under the Act, the powers to design and administer taxes on land and property transactions and landfill tax were transferred from the U.K. Parliament to the Scottish Parliament.
The new Scottish taxes are the land and buildings transactions tax, which replaces U.K. s…