THE COST OF BUYING
THE Land and Building Transaction Tax — LBTT — is Scotland’s stamp duty, introduced in 2015. Rates are applied on a sliding scale, from no tax on properties under £145,000 up to 12 per cent on properties over £750,000.
The LBTT is undoubtedly adding to Edinburgh’s problem of low stock, says Ben Fox of Savills: “We’ve seen a 12 per cent drop in supply over last year’s levels. People are not moving as often as a result of the costs.”