Following a call for evidence and views Revenue Scotland have published a consultation paper Land and Buildings Transaction Tax – Additional Dwelling Supplement legislation changes: consultation.
The 6% additional dwelling supplement (ADS) is charged when buying an additional residential property (dwelling) in Scotland.
The proposed amendments would affect:
- timelines;
- inherited property;
- small shares;
- divorce or separation;
- joint buyers/economic unit provisions; and
- local authorities.
Responses to this consultation are required by 5 April 2023
Related content from Claritax Books
Stamp Duty Land Tax is a well-written, user-friendly guide to the complexities of SDLT, written for accountants, solicitors and other tax professionals, with plenty of worked examples. Topics covered include basic principles, leasehold transactions, partnerships, trusts, reliefs, anti-avoidance legislation and recent tribunal decisions. Full reference is made throughout to relevant legislation, case law and guidance from HMRC.
