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LBTT Additional Dwelling Supplement changes

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The Land and Buildings Transaction Tax (Miscellaneous Amendments) (Scotland) Order, SSI 2024/104, makes various amendments to the Land and Buildings Transaction Tax (Scotland) Act 2013 – particularly to reflect the outcome of the Scottish government’s consultation on changes to the Additional Dwelling Supplement. Key changes include from 1 April 2024:

  • introduction of a new targeted relief from LBTT where a local authority buys land funded by the Scottish Ministers for housing purposes;
  • extended 36-month residence replacement period for ADS relief (up from 18 months);
  • relief extended to transactions by joint buyers in certain circumstances, with the relevant period increased from 18 to 36 months;
  • reliefs introduced where a second dwelling is inherited or retained due to a court order, after missives are concluded on a different main residence purchase; and
  • disregard of shares worth under £40,000 in jointly-owned properties for ADS purposes.
Issue: 1657
Categories: News