Revenue Scotland - Land and Buildings Transaction Tax (Tax rates and Bands etc) (Scotland) Amendment Order 2018 - Publication of updated guidance

By Technical Team on 28 Jan 2019

Revenue Scotland has updated its guidance to reflect the changes resulting from the Land and Buildings Transaction Tax (Tax rates and Bands etc) (Scotland) Amendment Order 2018 which was approved by the Scottish Parliament on 23 January 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