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  • FIRST POST
    • Mark Leroy
    • By Mark Leroy 17th May 19, 1:03 PM
    • 3Posts
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    Mark Leroy
    Second Property Taxes
    • #1
    • 17th May 19, 1:03 PM
    Second Property Taxes 17th May 19 at 1:03 PM
    Hi, my flat is not selling so Iím now looking at other options BTL Mortgage.

    This would mean when I move I will have 2 properties, I have looked online but was hoping for some clarity on additional taxationís land tax, second property tax and stamp duty, are these one in the same or all separate charges.

    I reside in Scotland.

    First property will be my BTL valued at 115k

    Principle home 250k

    Thank you in advance for any help.
Page 1
    • davidmcn
    • By davidmcn 17th May 19, 1:54 PM
    • 11,271 Posts
    • 12,460 Thanks
    davidmcn
    • #2
    • 17th May 19, 1:54 PM
    • #2
    • 17th May 19, 1:54 PM
    You pay Land and Buildings Transaction Tax in Scotland (the devolved equivalent to what used to be Stamp Duty Land Tax and before that Stamp Duty), and it's the Additional Dwelling Supplement you'll be liable for on the purchase price of the new house. All explained on the Revenue Scotland website:

    https://www.revenue.scot/land-buildings-transaction-tax/guidance/lbtt-legislation-guidance/lbtt10001-lbtt-additional-dwelling
    • scottishblondie
    • By scottishblondie 17th May 19, 3:45 PM
    • 2,073 Posts
    • 1,341 Thanks
    scottishblondie
    • #3
    • 17th May 19, 3:45 PM
    • #3
    • 17th May 19, 3:45 PM
    It’s pretty straightforward. You’ll be liable for the additional supplement at 4% on top of the standard LBTT. So that is a total £12.1k of LBTT - £2.1k standard and £10k additional.
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