Commentary

• A total of £64.5m LBTT was declared by taxpayers in March 2024. This is 17% higher than February 2024 and the third-highest figure for the month of March on record.
• LBTT, excluding ADS, declared in March 2024 was £46.7. This is £5.8m higher than in February 2024 and £1.6m lower than March 2023. 
• In comparison to February 2024, residential LBTT declared, excluding ADS, increased by £6.8m. Non-residential revenue, excluding ADS, dropped by £1m to £16.8m in the same period.
• A total of 8,960 notifiable land and building transactions were reported in March 2024, which is 1,880 more than last month, and 70 fewer than March 2023.
• 7,410 residential LBTT returns were submitted in March 2024, which is 100 fewer than in March 2023. Residential LBTT, excluding ADS, was the third-highest ever for the month of March at £29.9m.