Calculate Land and Buildings Transaction Tax for properties in Scotland
Land and Buildings Transaction Tax (LBTT) replaced Stamp Duty in Scotland on 1st April 2015. LBTT has 4 residential tax bands and 3 commercial tax bands. The tax to be paid will depend on the price of the property and is calculated by taking into account the bands the purchase price falls into (property tax bands highlighted in the table). The percentage rate for each band in LBTT is applied only to the part of the price over the relevant threshold and up to the next threshold.
The Scottish Government amended LBTT rules in a temporary measure introduced on 10th July, effective from 15th July. At present, the Scottish Government intends to discontinue the measure on 31st March 2021.
The amendment raises the Nil Rate Band or “threshold” for LBTT to £250,000 for residential transactions. It is important to note that where Additional Dwelling Supplement applies, the 4% rate continues to apply to the whole amount of the purchase price.
Use our calculator below to work out how much Land and Buildings Transaction Tax you would need to pay.
What kind of Land and Buildings Transaction Tax bands are there?
LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired.
Price bands | Rate* |
---|---|
Up to £250,000 | 0% |
Above £250,000 to £325,000 | 5% |
Above £325,000 to £750,000 | 10% |
Over £750,000 | 12% |
Rates effective between 15 July 2020 and 31 March 2021 (inclusive of these dates) |
* Rate based on that portion of purchase price |
Price bands | Rate* |
---|---|
Up to £175,000 | 0% |
Above £175,000 to £250,000 | 2% |
Above £250,000 to £325,000 | 5% |
Above £325,000 to £750,000 | 10% |
Over £750,000 | 12% |
Correct from 1st April 2016 | * Rate based on that portion of purchase price |
Price bands | Rate - on that portion of purchase price |
---|---|
Up to £150,000 | 0% |
Above £150,000 to £350,000 | 3% |
Above £350,000 | 4.5% |
Correct from 1st April 2016 | * Rate based on that portion of purchase price |