Highlights from the broader tax news for the three weeks ending 3 January 2024, including: Budget date; council tax changes for Scotland; and plastic packaging tax g-Form for insolvency practitioners.
Budget day
Spring Budget 2024 will be held on 6 March 2024. The portal for making representations will close on 24 January. Read more.
Council tax changes in Scotland
The Scottish Parliament has passed legislation with the aim of increasing housing availability in Scotland. The new powers enable councils to charge up to double the full rate of council tax on second homes from 1 April 2024. Currently, second homes are subject to a default 50% discount on council tax. However, local councils can vary council tax charges and the majority already charge second homeowners the full of council tax.
Long-term empty homes are already subject to higher council tax. However, new owners of properties that have previously been empty for more than twelve months will now have a six-month grace period, during which they will be protected from paying double the full council tax rate, with the potential for the six months to be extended by councils. This is subject to evidence that renovations or repairs are being undertaken by the owner with a view to the building being brought back into use. Read more.
Plastic packaging tax in the event of insolvency
HMRC has introduced a digital g-Form that must be used by insolvency practitioners to:
- notify HMRC of an insolvency event;
- submit plastic packaging tax returns; and
- de-register from plastic packaging tax.
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