The amount you pay is dependent on the value of the property you purchase and whether you are buying your first home.
Learn about LBTT in Scotland
And you’ll only pay 5% on any proportion between £300,000 and £500,000 – saving you around £5,000.
Here’s how to know you fulfil the definition of a first time buyer:
- You have never owned freehold or leasehold interest in a dwelling before.
- You are purchasing your only or main residence (in the UK and the rest of the world).
- Any joint purchasers are also first-time buyers.
I've bought a home before, so how much will I pay?