Finance Secretary John Swinney has today announced changes affecting the Land and Buildings Transaction Tax (LBTT) and the Scottish Landfill Tax (SLfT).
In his Budget Statement to Parliament, Mr Swinney proposed that additional residential properties, such as buy to let or second homes, will be subject to a new LBTT supplement from 1st April 2016, while the standard and lower rates for SLfT will rise in line with inflation from 1st April 2016.
Meanwhile, the 5.6 per cent credit limit for contributions to the Scottish Landfill Communities Fund remains.
Revenue Scotland will be working closely with the Scottish Government to prepare for the LBTT change.
More information, including a calculator to help taxpayers and agents understand the impact of the LBTT change, can be found on the devolved taxes section of the Scottish Government’s website.
Details of the amended SLfT rates which will apply from 1 April 2016 can also be found on the Scottish Government's website.
Revenue Scotland will provide a further update in due course.