News

Important news and announcements.

15 February 2018

The first three-year review of tax chargeable on leases for Land and Buildings Transaction Tax (LBTT) begins on 1 April 2018.

The review, which will apply to the majority of LBTT leases, is a legal requirement set out in the LBTT (Scotland) Act 2013. Under the Act, tenants are required to submit a further return to Revenue Scotland every three years to review the lease and assess whether the correct amount of tax has been paid.

9 February 2018

The Scottish Government has today launched a consultation on the First Time Buyer Relief as announced in the Scottish draft Budget on 14 December. The consultation will close on 23 March 2018 and the Scottish Government is inviting comments to be sent to the consultation hub https://consult.gov.scot/fiscal-responsibility/first-time-buyers-relief/ or by email to lbtt.ftb@gov.scot.

14 December 2017

The Scottish Government has today announced its Draft Budget for 2018-19.

This includes the intention to introduce a new relief on LBTT for first-time buyers in Scotland which increases the zero-rate threshold from the current level of £145,000 to £175,000. The Budget document sets out Scottish Government plans to launch a consultation on the LBTT policy proposals and this is expected to begin in January.

7 November 2017

On 2 November 2017, the Bank of England announced a 0.25% increase in the base interest rate. Revenue Scotland has amended its rates accordingly and these will take effect from Wednesday 8 November. Updated information is available in online guidance documents 4002, 4003 and 4004.

26 September 2017

Scotland’s tax authority collected over £630m in Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT) for the Scottish Consolidated Fund during 2016-17, an increase of £61m compared to 2015-16.

The combined total of LBTT and SLfT collected since Revenue Scotland began operating also exceeded £1bn.

The figures were revealed in the tax authority’s annual reports and accounts which were published today (Tuesday 26th September).

7 September 2017

The Cabinet Secretary for Finance and the Constitution, Derek Mackay, today announced the reappointment of Ian Tait, Jane Ryder and Lynn Bradley to the Board of Revenue Scotland.

Mr Mackay said: “The reappointments means that the board members are in a position to continue the good work that they started when the organisation was set up.

14 October 2016

Revenue Scotland has revised its view on the application of Schedule 13 of the Land and Buildings Transaction Tax (Scotland) Act 2013 (‘LBTTA’) to cases where a charity is one of a number of buyers who are or will become common owners.  We now accept that Charities relief from LBTT may be claimed for the charity’s (or charities’) pro indiviso share(s) of the relevant land transaction.

22 September 2016

Following the close of the SLfT consultation on waste fines, we have now published an analysis of the responses and the new ‘waste fines’ section of legislative guidance. This new section of guidance will implement the conditions set out by The Scottish Landfill Tax (Qualifying Material) Order 2016, and will come into force from 1 October 2016.

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Last updated: 
28 January 2016