1. What is LBTT?

The Land and Buildings Transaction Tax (LBTT) is a tax applied to property purchases in Scotland. It replaced the UK Stamp Duty Land Tax (SDLT) for Scottish properties in April 2015.

2. How is LBTT Calculated?

LBTT is calculated using progressive rates:

3. When is LBTT Payable?

Details: LBTT must be paid within 30 days of the effective date of the transaction (usually the date of completion). First-time buyers may qualify for relief.

4. Using the Calculator

Tips: Enter the property purchase price in GBP. The calculator will automatically apply the appropriate tax rates to each portion of the value.

5. Frequently Asked Questions (FAQ)

Q1: Are there any exemptions?
A: Yes, certain transactions like gifts, transfers between spouses, and properties under £40,000 may be exempt.

Q2: Are there additional charges?
A: Additional Dwelling Supplement (ADS) of 6% applies to second homes and buy-to-let properties.

Q3: How does this compare to English SDLT?
A: Scotland has different rates and bands. Generally, LBTT is higher for more expensive properties.

Q4: Who needs to pay LBTT?
A: Anyone purchasing property or land in Scotland where the price exceeds the minimum threshold.

Q5: Where does the tax revenue go?
A: LBTT revenues go to the Scottish Government to fund public services in Scotland.