Land and Buildings Transaction Tax (LBTT) has replaced Stamp Duty Land Tax (SDLT) from 1 April 2015 on transactions involvingJohn Swinney MSP Revenue Scotland launch at Brodies land in Scotland.

The rates of LBTT are different; for residential purchases LBTT is less than SDLT on purchase prices up to £333,000 and more at higher prices. For non-residential (commercial, agricultural and mixed purchases) LBTT is less than SDLT for most purchase prices up to £2m and more above that.

To qualify for SDLT rather than LBTT the purchase should have been completed before 1 April. This calculator below compares the SDLT and LBTT for a given purchase price, and the potential tax impact involved. Please note that this calculator is indicative only and does not account for any reliefs or special circumstances that may apply under either tax. Specialist advice should be taken when considering the tax consequences of any purchase.

For more information on LBTT, please see our recent e-bulletin and download our Guide to LBTT.

If you would like to talk to a member of our team about LBTT please contact:

Key contacts
Isobel d’Inverno
Nick Scott