The Land and Buildings Transaction Tax is something which must remain at the forefront of your mind when purchasing a property in Scotland. It is the tax you pay when you purchase a property. However, if you are a first-time buyer, you are exempt from paying LBTT up until a certain purchase price, which is £175,000 and you can read more about LBTT ...
As it is nearly Christmas time, a Christmas analogy seems apt. Every conveyance is unique like a snowflake. Each presents unique issues to be addressed. Cladding is a significant issue with modern buildings, due to concerns regarding fire safety. Buildings with cladding are difficult to insure and may prove problematic in securing mortgage funds. I...
Correct as of the 1st of April 2024 LBTT – Land and Building Transaction Tax - is the Scottish equivalent of Stamp Duty Land Tax (SDLT). LBTT is a tax applied to residential and commercial land and buildings transactions, however I will be focusing exclusively on residential transactions. The rates of LBTT are dependent upon the value of the purcha...
