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A consultation on the proposed LBTT First Time Buyers Relief

A consultation on the proposed LBTT First Time Buyers Relief

Friday, February 9, 2018

ISBN: 9781788515481

A consultation on the details of the first-time buyer relief from Land and Buildings Transaction Tax (LBTT) as announced in the draft Scottish Budget 2018/19 has been launched.

Executive Summary

A consultation on the details of the first-time buyer relief from Land and Buildings Transaction Tax (LBTT) as announced in the draft Scottish Budget 2018/19 has been launched.

 

The relief will effectively raise the zero-tax LBTT threshold for first-time buyers to £175,000. Those buying their first property at above £175,000 will also benefit on the portion of the price between £145,000 and £175,000

 

The consultation will seek views on the Scottish Government’s proposals in terms of eligibility and implementation of the policy.

 

The consultation will close on 23 March 2018 and the results will inform final decisions on legislative proposals.