Land and Buildings Transaction Tax

[4] LBTT is a progressive tax, with its structure designed so that the charge rises more than proportionately to the actual price of the property.

[6] Proposals for rates and bands were announced by the Cabinet Secretary for Finance, Employment and Sustainable Growth on 9 October 2014, as part of the annual Draft Budget process and tax calculators are available to help taxpayers and agents determine the amount of LBTT due.

[7][8] The proposed tax rates and bands are subject to consultation and Parliamentary scrutiny through the Draft Budget process, led by the Finance Committee of the Scottish Parliament.

The Cabinet Secretary for Finance, Constitution and Economy announced on 21 January 2015 that he had reviewed the proposed rates and bands for residential property transactions.

For non-residential leases, Schedule 19 of the Land and Buildings Transaction Tax (Scotland) Act will apply.