|Purchase price||Tax payable under
old UK stamp duty
|Tax payable under
new UK stamp
On Wednesday 21st January, the Scottish Parliament amended the bands and rates that are to apply to Scotland's new Land and Buildings Transaction Tax (LBTT) from 1st April 2015.
The following table compares the cost of revised LBTT with the old and new UK stamp duties:
From April 1st, people buying properties for less than £333,000 will pay less tax in Scotland than they would in the rest of the UK. Those that buy properties for more than £333,000 will pay more tax.
|Purchase price||Newly announced
|Purchase price||Previously announced
Registered in Scotland, Company Number: SC288945
Mearns & Company are authorised and regulated by the Financial Conduct Authority
Registered office address: Anchor House, 112 Commercial Street, Edinburgh, EH6 6NF