Costs & Taxes
LBTT (Land and Buildings Transaction Tax)
Scottish equivalent of Stamp Duty
Full Definition
LBTT is Scotland's property purchase tax, replacing Stamp Duty north of the border. Rates and thresholds differ from England's SDLT. Additional dwelling supplement (ADS) of 6% applies to second homes and buy-to-lets. Calculated on a progressive basis similar to income tax.
Related Terms
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Stamp Duty Land Tax (SDLT)
Tax paid when purchasing property over £250,000
LTT (Land Transaction Tax)
Welsh equivalent of Stamp Duty
Capital Gains Tax (CGT)
Tax on profit when selling investment property
Section 24 (Mortgage Interest Relief)
Restriction on mortgage interest tax deductions for landlords
Limited Company Buy-to-Let
Purchasing properties through a company structure
Ground Rent
Annual payment to freeholder for leasehold properties