What do the LBTT changes mean?
This applies to first time buyers as well as those moving on from an existing home.
Buyers in Scotland will save up to £2,100 when they move home by the 31 March 2021. Take a look at our examples below for details of what you need to pay. If you are buying a new home over £250,000, you’ll still need to pay LBTT charges.
The amount you pay increases on a sliding scale, but you’ll still pay less than before the LBTT changes.
For any new home worth more than £250,000, you will need to pay LBTT but the amount increases on a sliding scale. Because the threshold has increased, you'll pay less LBTT than before the changes took place.
Take a look at our worked example in this table for an idea of how much LBTT you'll need to pay.