When you buy a property, the change in land ownership has to be legally registered at the Land Registry. This process requires a certificate from Revenue Scotland, which they will only issue on receipt of the LBTT payment due on the purchase of the property. So, put simply, if you don’t pay the LBTT, you can’t buy your new home. Luckily, in July 2020 the Scottish Government announced that the threshold at which LBTT begins to be paid will rise from £145,000 to £250,000 and remain in place until 31 March 2021. Home movers buying a home costing more than £250,000 will save £2,100.
How much is LBTT?
|Purchase price||LBTT rate|
|Up to £175,000*||0%|
|Above £175,000 to £250,000||0%|
|Above £250,000 to £325,000||5%|
|Above £325,000 to £750,000||10%|
Please contact the Sales Advisor to check individual plot availability and eligibility for our Refer a Friend, LBTT and Assisted Move Schemes or any additional Plot specific incentive. No application to benefit from these schemes is guaranteed and each application is treated on a case-by-case basis.
If you have any questions about who we are, or if you would like to learn more about how to buy a property, please get in touch.