Rettie & Co: Residential LBTT up year-on-year but future outlook remains uncertain

New research from Rettie & Co has revealed that Land and Buildings Transaction Tax (LBTT) returns were up 1.2% in 2019/20.

Published 23 July 2020

LBTT threshold increased to £250,000 and £50m added to First Home Fund

The threshold at which Land and Buildings Transaction Tax (LBTT) is paid will be raised from £145,000 to £250,000 as the Scottish Government steps up efforts to support homebuyers and help the economy recover from the impact of coronavirus.

Published 10 July 2020

Revenue Scotland fails in appeal against decision to quash penalties for LBTT late return

Penalties imposed by Revenue Scotland (RS) over the late filing of a land and buildings transaction tax (LBTT) return have been quashed after the tax agency failed to produce evidence that it had taken a decision to impose the penalties, as required by legislation.

Published 26 July 2019

Blog: LBTT has worked – but a Brexit break might be due

By Rodney Whyte, partner and property and planning specialist at law firm Pinsent Masons

Published 29 October 2018

LBTT delivers third highest monthly revenues total

A seasonal upturn in property market activity has delivered a £57 million boost to Scottish Government revenues, generating the third highest monthly return since the Land and Buildings Transaction Tax (LBTT) was introduced.

Published 15 August 2018

First-time buyer relief ‘a positive change’ to LBTT Scotland Act

The latest Land and Buildings Transaction Tax (LBTT) tax relief to first-time buyers is a positive change, especially in the current market conditions, according to estate agents.

Published 11 July 2018

Revenue Scotland updates online guidance and processes following introduction of First-Time Buyer Relief

Revenue Scotland has updated its guidance, systems and processes to allow First-Time Buyer Relief to be claimed from 30 June 2018.

Published 6 July 2018

Comment: LBTT latest relief trying to aid first-time buyers

The LBTT relief for first-time buyers, which came into force on June 30th, is the latest in a series of moves by the Scottish Government to help people get on the property ladder, but buyers will struggle to compete for properties in city centres in the current climate, says Shawn Wood.

Published 6 July 2018

New tax relief to help people buy their first home

First-time buyers will be helped to purchase their first home through a new tax relief which came into force at the weekend.

Published 2 July 2018

Blog: LBTT – happy third anniversary?

As the third anniversary (April) of the introduction of Land and Buildings Transaction Tax (LBTT) approaches, Robin Mitchell offers a timely reminder of tenants’ responsibilities.

Published 28 March 2018

Second homes tax ‘weakening’ property market by driving landlords out

An estate agent has bemoaned tax changes for second homeowners for “driving landlords out” of the private rented sector and triggering a sell-off by investors.

Published 20 March 2018

Consultation launched on LBTT first-time buyer relief

A consultation on the details of the first-time buyer relief from Land and Buildings Transaction Tax (LBTT) has been launched by the Scottish Government ahead of the introduction of new policy later this year.

Published 13 February 2018

CALA reveals LBTT offer to homebuyers

A housebuilder is offering homebuyers in the east of Scotland the chance to buy a home without having to pay the full Land and Buildings Transaction Tax (LBTT).

Published 12 January 2018

Mactaggart & Mickel Homes to pay LBTT for first-time buyers in wake of Budget

Scottish housebuilder Mactaggart & Mickel Homes has responded to the UK government’s announcement on stamp duty by announcing that it is following suit to help first-time buyers get on the housing ladder.

Published 24 November 2017

Scottish Government ‘£100m short’ on LBTT predictions

The returns for the Scottish Government’s Land and Building Transaction Tax (LBTT) returns in February 2017 generated the lowest LBTT revenue of any other month in 2016/17, official figures have shown.

Published 27 March 2017