The LBTT holiday ended in Scotland on 31st March 2021, meaning the zero tax threshold has dropped from £250,000 back to £145,000. First time buyers will benefit from a nil tax threshold of £175,000, as they did prior to the 15th July 2020.
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.
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