Property Taxes


In our response to the Government’s Fixing our broken housing market consultation, we compared the UK tax consequences of the traditional model for the sale of land for residential development in the UK with various routes to land pooling. Our conclusion is that there needs to be a level playing field in tax terms.

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

From April 2018, Land Transaction Tax (LTT) will replace UK Stamp Duty Land Tax (SDLT) in Wales.  A number of suggestions by CIOT to make it work in practice have been included in recommendations in a Welsh Finance Committee report.


The CIOT has made a proactive submission to HMRC on the business and administrative burdens of operating the Construction Industry Scheme on landlord contributions to tenant’s works. 

Finance Secretary Derek Mackay outlined the Scottish Government’s draft budget for 2017/18 to Parliament on Thursday.  A copy of the full budget document can be found here.

The CIOT comments sent to HMRC on ER - Associated disposals and fractional interests.

The CIOT responded to the ‘Stamp duty land tax: changes to the filing and payment process’ consultation that followed the announcement at Autumn Statement 2015 that the SDLT filing and payment period will be reduced from the current 30 days to 14 days after the effective date of the transaction (to be implemented during 2017-18 with the exact date to be confirmed).

The Scottish Government set up the Barclay review group to make recommendations that seek to enhance and reform the business rates system in Scotland to better support business growth and long-term investment and reflect changing marketplaces. The group is expected to report to Scottish Government Ministers in July 2017. In order to inform their report, the group issued a call for submissions in July 2016, seeking views on how to re-design the business rates system.

Land Transaction Tax (LTT) will replace the UK Stamp Duty Land Tax (SDLT) in Wales from April 2018. The Welsh Government consulted widely on the policy design of LTT. Since consulting on proposals for LTT, changes have been introduced to SDLT and Land and Building Transaction Tax (LBTT), in particular, the higher rates charged on purchases of additional residential properties introduced by the UK and Scottish Governments from 1st April this year.

The Finance Committee of the Scottish Parliament issued a call for evidence at the end of June 2016 to assist their inquiry into the operation of Land and Buildings Transaction Tax (LBTT) in its first full year (1 April 2015 to 31 March 2016). The inquiry also considered forecast tax revenues in comparison to actual outturn figures.