Land and buildings transaction tax

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FORTHCOMING CHANGE: The Scottish government will consult on (i) a review of LBTT, commencing in spring 2025, to support an evaluation of key aspects of the tax legislation, (ii) draft legislation to provide relief from LBTT on the exchange of units within Co-ownership Authorised Contractual Schemes (CoACS) investing in Scottish property (to provide consistency with existing arrangements in the rest of the UK), and (iii) whether to introduce a LBTT relief for the seeding of properties from existing unauthorised investment vehicles into property authorised investment funds (PAIFs) and CoACS. Legislation will be laid before the Scottish Parliament early in 2025 to provide additional clarity on the clawback arrangements for sub-sale development relief and to provide for the availability of LBTT group relief for non-partition demergers.

FORTHCOMING CHANGE relating to the ADS: The Scottish Government on 16 December 2021 launched a 12-week consultation seeking the public’s views on the operation of the Land and Buildings Transaction Tax (LBTT) Additional Dwelling Supplement (ADS). The consultation sought views on the operation of the ADS, not whether it should continue, or the rate at which it should

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