LBTT Surcharge

25 February 2016

From April 2016, the purchase of any second home in Scotland will attract a 3% surcharge above the usual rate of Land & Buildings Transaction Tax (LBTT) payable.

A more detailed Note on the circumstances in which this will apply is available on our webisite – see ‘Property Services‘ on our ‘Legal Services‘ page.

If you are considering purchasing a second home prior to 31st March 2016 to avoid the surcharge, please contact us as soon as possible in order to allow enough time to carry out the conveyancing to achieve the appropriate property transfer.