Will the government of Scotland pass legislation to create a wealth tax? OR will the Westminster government pass legislation to create a wealth tax that also applies to Scotland?
This question resolves Yes if legislation that would enact a wealth tax in Scotland is passed by midnight on 31 Dec 2024, by either the Scottish or Westminster government, otherwise no. NB: the question resolves based on the date the legislation is passed, even if the tax does not immediately come into effect.
If the Westminster government passes a wealth tax that affects England and Wales but not Scotland, that doesn't count. This question resolves NO (unless the Scottish government separately passes a wealth tax that does affect Scotland.)
What is a wealth tax?
A tax that applies to living taxpayers' wealth in general, above a threshold (which could be £0). It still counts if there are some exemptions
There is no minimum tax rate for this question, even a 0.0001% tax would count
What is not a wealth tax?
Capital gains tax, including amendments to capital gains tax to eg cover main residences
Tax which only applies to property or some other specific asset class (eg crypto?) but not to wealth in general
Changes to inheritance tax.
Examples:
YES: taxpayers must pay X% of their wealth above a threshold of £Y, with exemptions for the primary residence, art works, and agricultural land. (Yes because it applies to wealth in general, with some exemptions.)
NO: taxpayers must pay X% of the value of second homes only. (No because it applies to a specific asset class, not to wealth in general.)
NB: I copied a lot of the wording from my other question about whether the UK will pass a wealth tax