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Murray Beith Murray LLP is a leading Scottish private client law firm.

For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.

Call us today on 0131 225 1200

2025 L500 Leading Firm
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Scottish Budget Update – Property Taxes

News/Press
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Web Building imageThe temporary cut to Land and Building Transaction Tax (LBTT) nil-rate band introduced in July 2020 saw the starting point for LBTT rise from £145,000 to £250,000.

However, this was a temporary measure and as intended, for transactions with an effective date from 1 April 2021 onwards, the ceiling of the nil-rate band for residential LBTT will return to £145,000.

First-time buyers will continue to be able to claim the first-time buyer relief, which has the effect of raising the nil rate band to £175,000 and results in a reduction of tax of up to £600.

Proposed LBTT Rates and Bands for Residential Conveyances 2021-22

Band

Relevant Consideration

Rate

Nil rate band

Not more than £145,000

0%

First tax band

More than £145,000 but not more than £250,000

2%

Second tax band

More than £250,000 but not more than £325,000

5%

Third tax band

More than £325,000 but not more than £750,000

10%

Fourth tax band

More than £750,000

12%

UK Budget

The UK Budget is scheduled for Wednesday 3 March 2021.

Murray Beith Murray, Edinburgh

Murray Beith Murray is a private client practice, made up of specialist lawyers from a variety of legal disciplines including property, and we are able to advise on a range of legal matters. If you would like to speak to one of our expert lawyers please complete our enquiry form or call us on 0131 225 1200.

Murray Beith Murray was established in 1849, as advisors for generations of clients, committed to our values of integrity, expertise and trust. This aim and these values continue to this day as does our commitment to be here when you need us.

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