Land and Buildings Transaction Tax (LBTT) is the Scottish equivalent of Stamp Duty and has been in place since 2015. New changes by the Scottish Government now mean that there is no LBTT to pay for first-time buyers on homes up to £175,000, an increase from £145,000. And if your first home costs more than £175,000, you won’t have to pay stamp duty on the first £175,000.

The revised LBTT tax rates and bands for homes in Scotland are:

Purchase Price

LBTT rate

0 to £175,000*

Zero

£175,001 to £250,000

2.0%

£250,001 to £325,000

5.0%

£325,001 to £750,000

10.0%

£750,001 and over

12.0%


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