Scottish Tax update
10 Aug, 2016
The Scottish Government’s Finance Secretary, Derek Mackay has announced that the annual receipts for Scotland’s Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT) totalled £572 million in 2015-16. This figure was around £74 million
higher than initial forecasts.
The Scottish Land and Buildings Transaction Tax (LBTT) came into force on 1 April 2015. The LBTT replaced UK Stamp Duty Land Tax (SDLT) in Scotland. The LBTT revenues were £44 million more than estimated.
Commenting on the LBTT figures, the Finance Secretary said: