Land and Buildings Transaction Tax Scotland

Author: Mitchells Roberton
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Just to update you. The Deputy First Minister and Cabinet Secretary for Finance, Constitution and Economy  confirmed to the Scottish Parliament on Wednesday 21 January 2015 that the tax rates and bands for residential property transactions  in Scotland have now been altered  as follows :

BAND RATE
Up to £145,000
£145,001 to £250,000 2.0%
£250,001 to £325,000 5.0%
£325,001 to £750,000 10.0%
£750,001 and over 12.0%

 

These tax rates and bands remain subject to Parliamentary scrutiny and approval.  The Scottish Government will seek Parliament’s approval of rate setting orders which will be laid in Parliament in early February.

 

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