Scotland passes first tax bill in 300 years

THE SCOTTISH Parliament yesterday voted to abolish UK stamp duty for property sales, replacing it with a new levy letting the country collect its own revenues for the first time in history.

Politicians at the national parliament in Holyrood voted to install the new levy, the land and building transactions tax, to ensure that the amount paid relates more closely to the value of a property.

The bill is Scotland’s first tax bill in 300 years, according to the government, and will come into effect in April 2015.