The Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc) (Scotland) Amendment Order SSI 2024/367 increases the rate of the land and buildings transaction tax additional dwelling supplement (ADS) to 8% for transactions with an effective date on or after 5 December 2024 (the date of the Scottish Budget). Previously the ADS was set at 6%.
The increase does not apply to transactions with an effective date on or after 5 December 2024 where the contract for the transaction was entered into before that date.
The Order came into force on 5 December 2024 but will only remain in force permanently if the Scottish Parliament approves the Order within a 28-day period of it having been made.
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The Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc) (Scotland) Amendment Order SSI 2024/367 increases the rate of the land and buildings transaction tax additional dwelling supplement (ADS) to 8% for transactions with an effective date on or after 5 December 2024 (the date of the Scottish Budget). Previously the ADS was set at 6%.
The increase does not apply to transactions with an effective date on or after 5 December 2024 where the contract for the transaction was entered into before that date.
The Order came into force on 5 December 2024 but will only remain in force permanently if the Scottish Parliament approves the Order within a 28-day period of it having been made.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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