APPG on Taxation: Consultation on Tax and the Implications of Brexit - CIOT comments

31 Jan 2019

The changes implemented by the Order, which take effect from today (25 January 2019), are :

to reduce the lower rate of non-residential LBTT from 3% to 1%;

to increase the upper rate of non-residential LBTT from 4.5% to 5%;

to reduce the starting threshold of the upper rate of non-residential LBTT from £350,000 to £250,000; and

to increase the Additional Dwelling Supplement (ADS) rate from three to four percent (payable on purchases of second residential dwellings over £40,000).

The full list of guidance changed as a result of the Order is available on our website at: https://www.revenue.scot/news/news/guidance-updated-reflect-land-and-buildings-transaction-tax-tax-rates-and-bands-etc.

Technical Team