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And replaced with a new tax: the Land and Buildings Transaction Tax (LBTT) Property price Rate Up to £135,000 0 £135,001 - £250,000 2% £250,001 - £1,000,000 10% Over £1,000,000 12% This was announced back in October, but I can't find any threads on it, probably buried by the referendum stuff. At the moment, UK stamp duty land tax is levied at 0pc for homes worth up to £125,000; 1pc between £125,001-£250,000; 3pc between £250,001-£500,000; 4pc between £500,001-£1m; 5pc between £1m-£2m and 7pc above £2m. A key difference is that the new Scottish LBTT tax is only on the value above the threshold, so it is slightly less insane than the current system. http://www.moneysavingexpert.com/news/mortgages/2014/10/stamp-duty-bill-for-average-properties-in-scotland-to-be-slashed The effect on business considering where to build large offices may be significant. This change may turn out to be good for individuals but bad for the Scottish economy.
