Homebuyers in Scotland will be able to take advantage of reduced rates of Land and Buildings Transaction Tax (LBTT) from this week.
The Scottish Government has announced that the threshold at which LBTT begins to be paid will rise from £145,000 to £250,000 on Wednesday, July 15 and will remain in place until March 31, 2021.
Excluding the Additional Dwelling Supplement, it means that 80 per cent of homebuyers will pay no LBTT. Home movers buying a home costing more than £250,000 will save £2,100.Finance Secretary Kate Forbes said: “I am delighted that we are able to implement this measure quickly and remove uncertainty from the market.“The UK Government had weeks to prepare for its decision this week to raise the threshold at which Stamp.
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