Land and Buildings Transaction Tax

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Land and Buildings Transaction Tax is a tax in Scotland that was introduced in the Land Reform (Scotland) Act 2016. Land and Buildings Transaction Tax replaced Land and Buildings Transactions Tax (LBTT). Land and Buildings Transaction Tax was introduced on 1 April 2015. Land and Buildings Transactions Tax was originally introduced by the Land Reform (Scotland) Act 1980.

The Land and Buildings Transaction Tax has been welcomed by the public. Land and Buildings Transaction Tax is a more progressive Land Tax as it is calculated on the market value of the land, not on the rateable value or an agreed rent. Land and Buildings Transaction Tax also replaces Land and Buildings Transactions Tax (LBTT) that was introduced in 1980. Land and Buildings Transactions Tax went up on 1 April 2015 which means that Land and Buildings Transaction Tax will go up in 2020 in this respect.

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