Tax cut for Scottish homebuyers starts this week: Update

We had promised in Friday’s blog to update you as soon as there was further news in connection with the tax for Scottish homebuyers.  It has now been announced that the changes referred to in our previous blog will begin on Wednesday 15^th July and remain in place until 31^st March 2021. 

Just to confirm that this means that the starting point for Land and Building Transaction Tax is to rise from £145,000 to £250,000, although it will not affect the Additional Dwelling Supplement tax payable in respect of second homes.

It is obviously a great time to get on the property market or move up, so please do not hesitate to contact Kay, Claire or Susan of our property department, if you want to get things moving.