Parents Buying Property for Their Children

Jun 20, 2019 | Blog

Some children are lucky enough that their parents are in a financial position to buy them a property, for example while they are at university. But parents have to carefully consider their options when purchasing such a home, which will depend upon the reason for...

Changes to the Land and Buildings Transaction Tax (LBTT)

Mar 25, 2019 | Blog

With effect from the 25 January 2019 certain changes in the rates and thresholds of LBTT took place. These apply to: Transactions where Additional Dwelling Supplement (ADS) is payable Non residential property transactions where a lump sum changes hands ( e.g. a...

June 2018 – First time buyers & a “Land and Buildings Transaction Tax” break

Jul 3, 2018 | Bullet Point Update

Some modest relief from “Land and Buildings Transaction Tax” (“LBTT”) has been introduced for first-time buyers. The relevant statutory order (the snappily-titled “Land and Buildings Transaction Tax (First-Time Buyer Relief)(Scotland) Order 2018”) came into force on...

February 2018 – LBTT’s 3rd Birthday – Part 2

Apr 16, 2018 | Bullet Point Update

This is a follow-up to last month’s BPU on Land and Buildings Transaction Tax (“LBTT”) at the end of which it was said: “As far as [many aspects] are concerned LBTT has largely followed the approach taken in the UK “stamp duty land tax” legislation [i.e. the...

February 2018 – LBTT’s 3rd Birthday

Mar 6, 2018 | Bullet Point Update

Birthday announcement by Revenue Scotland The Revenue Scotland website recently announced (emphases added): “The  Land and Buildings Transaction Tax (Scotland) Act 2013 sets out the legislative requirement for a tax return to be submitted for leases in Scotland in...