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Q&As
Paying Land and Buildings Transaction Tax (LBTT) in Scotland
If my home is in England and then I buy a plot of land (residential) in Scotland for under £100,000, would I need to pay any Land and Buildings Transaction Tax (LBTT)?
And would I have to pay the LBTT if I decide to build on this land in the future?
One Answer
The Land & Buildings Tax is applicable on all purchases above £145,000, so strictly speaking no there would be no tax liability for the a purchase at less than £100,000.
However as it seems this will be a purchase in addition to the existing main residence then this changes things slightly.
The Land and Buildings Transactions Tax (amendment) (Scotland) Act 2016, states that the Land and Buildings Tax is to be applied on purchases of additional residential properties in Scotland of £40,000 or more.
This tax is usually applied at 3% of the purchase price. Ideally you should speak with a Tax Expert for advice.
Rachel Pyne, Build It expert