Wealth Taxes and Devolution

Eiser, David (2020) Wealth Taxes and Devolution. Wealth Tax Commission, London. (https://doi.org/10.47445/120)

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This paper poses the question: if the UK were to introduce a net wealth tax, to what extent would there be a case for that tax, or elements of that tax, to be devolved to the UK’s three devolved legislatures? The notion of a tax being devolved in this sense can include anything on the spectrum from full devolution, through some form of tax sharing arrangement where devolved government can vary specific aspects of the tax within their territories, to revenue assignment. To analyse this question, the paper draws on economic theory, the practical experience of recent tax devolution in the UK, and lessons from other countries that operate a wealth tax at devolved level.