What is LBTT payable on?
The Land and Buildings Transaction Tax (LBTT) is a tax applied to residential and non-residential land and buildings transactions (including commercial leases).
Who can submit LBTT return?
Lease Transactions
Land and Buildings Transaction Tax (LBTT) was introduced on 1 April 2015 and it may apply to anyone leasing non-residential land or property in Scotland. Where a notifiable lease has been granted on or after 1 April 2015 then an LBTT return must be submitted by the tenant.
Who is exempt from LBTT?
the land transaction is exempt from charge, either because the chargeable consideration falls within the nil rate band or the tax charge has been reduced, deferred or eliminated due to a relief (not all of which can eliminate the charge entirely). See LBTT3010 for guidance on reliefs.
Is LBTT the same as stamp duty?
Stamp Duty Rates in Scotland. Stamp duty in Scotland is now called land and buildings transaction tax (LBTT).