On the transfer of property in Scotland, the Land and Buildings Transaction Tax is:
Residential
| Consideration (£) | Rate (%) |
|---|---|
| 0 – 145,000 | 0 |
| 145,001 – 250,000 | 2 |
| 250,001 – 325,000 | 5 |
| 325,001 – 750,000 | 10 |
| Over 750,000 | 12 |
Non-residential
| Consideration (£) | Rate (%) |
|---|---|
| 0 – 150,000 | 0 |
| 150,001 – 350,000 | 3 |
| Over 350,000 | 4.5 |
The rates apply to the portion of the total value which falls within each band. Additional LBTT of 3% may apply to the purchase of additional residential properties.
The Scottish government is planning to introduce a new relief for first-time buyers for purchases of up to £175,000, subject to consultation. Where a property costs more than this amount, first-time buyers will benefit from relief on the portion of the price below the threshold.