Jan 15, 2021 | Bullet Point Update
Introduction Land and buildings transaction tax (“LBTT”) is the Scottish version of “stamp duty land tax”. In practice, LBTT is payable mainly in two cases: (1) the purchase of land including in particular residential property, and (2) the grant or transfer of leases...
Dec 22, 2017 | Bullet Point Update
This is a follow-up to the BPUs for January 2016 and May 2017 concerning the “Additional Dwelling Supplement” (“ADS”) payable in addition to Land and Buildings Transaction Tax (“LBTT”) for second homes. The story is now getting a bit convoluted. But, in outline, the...
Mar 13, 2016 | Bullet Point Update
Stamp Duty Land Tax used to apply across the UK in relation to “land transactions”. But, for Scotland, with effect from 1st April 2015, this was replaced by Land and Buildings Transaction Tax (“LBTT”) under the Land and Buildings Transaction Tax (Scotland) Act 2013...
Mar 7, 2016 | Blog, Residential Property
To relatively little fanfare and without much in the way of useful guidance the Scottish Government has announced that from 1 April 2016 a supplementary Land & Building Transaction Tax (LBTT) charge will apply to the purchase of additional residential properties...
Aug 22, 2014 | Bullet Point Update
Our Bullet Point Update for April 2013 touched on “taxes yet to come”. In particular, it mentioned that under the Scotland Act 2012, the Scottish Parliament would take over responsibility for “Stamp Duty Land Tax” – the current UK tax on “land transactions” (most...
