Draft legislation to introduce a supplement on purchases of additional residential properties has been introduced to the Scottish Parliament. The Land and Buildings Transaction Tax (Amendment) (Scotland) Bill is being introduced by Ministers to ensure that opportunities for first-time buyers to enter the housing market in Scotland remain as strong as they possibly can, and to avoid a potential distortion of the Scottish housing market when similar UK legislation comes into effect in April. The draft Bill and legislative timetable is available on the Scottish Parliament website.
Once Parliament has finalised the Bill, Revenue Scotland will update its online and manual return forms to reflect the change, and publish legislative and operational guidance in advance of the supplement taking effect. We will continue to inform you about these changes via updates on our website and through Twitter.