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News Release


JLL reacts to Revised Land & Buildings Transaction Tax (LBTT)

EDINBURGH, 26 January 2015 – The Scottish Government has announced revised rates for residential properties under the Land and Buildings Transaction Tax (LBTT), which replaces Stamp Duty Land Tax (SDLT) in respect of land transactions in Scotland with effect from 1 April 2015.

Property experts at JLL give their views on the revised rates:

Jason Hogg, Director in JLL’s Residential team in Scotland, said: “The rethink on rates is great news for first time buyers, particularly given the uncertainty surrounding the long term future of Help to Buy in Scotland. However, we’d like to have seen the Scottish Government go further with the new 5% band. Middle class households, particularly in Edinburgh, Aberdeen and parts of Glasgow, will be hardest hit. We can expect this segment of the housing market to slow down after April, with more owners attempting to rush through sales and purchases before the new rate kicks in.”

Alasdair Humphery, Lead Director Scotland for JLL, added: “Regarding the commercial rates, we feel that the Scottish Government could and should have done more to level the playing field with the rest of the UK. Our main concern is that the creation of a two tier system, which places Scotland at a disadvantage to the rest of the UK, will increase uncertainty amongst investors who are unnerved by the potential of further changes to the tax regime in Scotland. We need to do more to encourage and support external investment into Scotland, but this new tax could hinder rather than help new investment.”​