CONTACT US 01312268200

Update on LBTT Rates for Residential Property

Posted on Feb 25, 2015 by Helen McGrath  | Tags: LBTT, property law, stamp duty land tax, Scotland, Land and Buildings Transaction Tax  | 0 Comments

Following a surprise review by the UK Government of the Stamp Duty Land Tax rates, the Scottish Government has revised the rates which will apply to Land and Buildings Transaction Tax on residential , which will replace SDLT north of the border from 1st April 2015.
The new rates for Residential Properties are:-
- Up to £145,000                               Nil
- £145,001 to £250,000                    2%
- £250,001 to £325,000                    5%
- £325,001 to £750,000                    10%
- £750,001 and upwards                12%
The rates for Commercial Property remain unchanged at:-
- Up to £150,000                               0%
- £150,001 to £350,000                    3%
- £350,001 and upwards                4.5%
See our previous blog for details of how LBTT will apply to leases.
If you have any questions about the new Land and Buildings Transaction Tax or how it will affect you, please contact a member of the MBM Commercial LLP Property Team 
Mistakes companies make regarding their IP-and how...
TECH NATION

Contact us

Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input

Contact us

Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input
You must confirm you have read and accept our Website Privacy Policy.
Invalid Input