At last the Scottish Government has introduced tax legislation which deliberately differs from that set by the UK Government. The UK Government budget this week introduced their Stamp Duty Land Tax (SDLT) supplement of 3% on all second homes bought for over £40,000 which applies in England Wales and NI. There is no exemption or relief for purchasing multiple properties as was hoped by investors. The Scottish Government's equivalent Land and Building Transaction Tax (LBTT) supplement is very similar but does exclude any purchase of 6 or more properties in one transaction. This may seem like a minimal difference but it could be a very significant one in helping to attract investors looking to build blocks of flats specifically for rent in the Private Rented Sector (PRS).

You can find details of the new Scottish Government's LBTT supplement here and the UK's SDLT that applies supplement here.