Land and Buildings Transaction Tax (LBTT), Scotland
Buying a home in Scotland
As from April 2021 the Land and Buildings Transaction Tax rates are:
- £0 to £145,000 - 0%
- £145,001 to £250,000 - 2%
- £250,001 to £325,000 - 5%
- £325,001 to £750,000 - 10%
- Over £750,001 - 12%
If you're a first-time buyer it's good news as the residential nil rate band of LBTT is raised to £175,000.
From 1 April 2021, the availability of the relief will result in a reduction in tax of up to £600 for qualifying first-time buyers, relative to the rates which would have otherwise applied. You can find out more here.
Book an appointment to visit us or talk to us today, and we could help you start the exciting journey to owning your own, never-lived-in-before, dream home.
Please contact your sales advisor for more information.