Are you aware the property tax in Scotland is now different from England?

From April 1st 2015 Scotland brings its first tax raising in 300 years and targets home buyers on properties over £145000 and replaces stamp duty thats still valid in England and wales.

The land and building transaction tax or LBTT as its also known

Up to £145,000 – 0%

£145,001 to £250,000 – 2%
£250,001 to £325,000 – 5%
£325,001 to £750,000 – 10%
£750,001 and over – 12%
UK stamp duty rates from December 2014
Up to £125,000 – 0%
£125,001 to 250,000 – 2%
£250,001 to £925,000 – 5%
£925,001 to £1.5m – 10%
£1.5m and over – 12%

Not a massive difference between the stamp duty rates and considering most house sales in Scotland are in the lower range of sales this is an expense all homeowners need to think about when purchasing a home in Scotland.

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