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LBTT Scotland
t00ts
Posts: 2 Newbie
Morning,
Looking for some advice.
Myself and wife purchased our first property in 2007 (a flat) and lived there for 7 years. Additions to the family resulted in us renting a house in 2014 to present and also letting out our flat.
We are now (or thought we were) in a position where we would like to buy house but have noticed that the LBTT rates have changed from 1st April 2016.
Would I be liable to pay 3% LBTT on any new property purchased as I own another property or would I be able to pay normal rate as I don't have a main residency?
Any help would be appreciated.
Thanks
Looking for some advice.
Myself and wife purchased our first property in 2007 (a flat) and lived there for 7 years. Additions to the family resulted in us renting a house in 2014 to present and also letting out our flat.
We are now (or thought we were) in a position where we would like to buy house but have noticed that the LBTT rates have changed from 1st April 2016.
Would I be liable to pay 3% LBTT on any new property purchased as I own another property or would I be able to pay normal rate as I don't have a main residency?
Any help would be appreciated.
Thanks
0
Comments
-
Yes you will be liable for the Additional Dwelling Supplement of 3%.0
-
Thank you for the quick response0
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