Latest News

HM Land Registry portal enhancements – a benefit to the property industry

11 August 2020

Following the announcement on 27 July that transfers of ownership of property, leases, mortgages, and other property dealings can be signed electronically, HM Land Registry has also confirmed that customers in Wales and England can now manage all portal applications and correspondence in one central place. Read More...

Government urged to speed up cladding remediation process

10 August 2020

The second report from the Industry Safety Steering Group on the progress of culture change in the construction sector was issued on 5 August, which highlighted the need for further change for the industry now, ahead of the legislation. Read More...

Consultation to reform planning system launched

06 August 2020

Housing Secretary, Robert Jenrick announced today, 6 August, the Government is ‘Planning for the Future’ and aims to overhaul outdated systems and reform the way the country builds. Read More...

LBTT threshold is now effective

Monday 13 July 2020

Revenue Scotland has confirmed the changes to the nil rate band for LBTT residential property transactions which will take effect from Wednesday 15 July and remain in place until 31 March 2021.

This follows the announcement by Kate Forbes MSP, Cabinet Secretary for Finance on 9 July where the threshold was raised from £145,000 to £250,000. The revised rates and bands will only apply to transactions with an effective date on or after 15 July 2020.

Rates for the Additional Dwelling Supplement (ADS) remain unchanged, however, any residential transactions for consideration of £40,000 or more will still require to be notified to Revenue Scotland even if no tax is due.

The rates for non-residential LBTT remain unchanged.

LBTT rates from 15 July 2020 to 31 March 2021

PURCHASE PRICE

LBTT RATE

 Up to £250,000

0 per cent

 Above £250,000 to £325,000

5 per cent

 Above £325,000 to £750,000

10 per cent

 Over £750,000

12 per cent

Propertymark campaigning

Today's announcement demonstrates Propertymark’s continued discussions and work with Governments to find ways to boost the property market. We are pleased that this latest campaigning success follows our other successful work on business rates relief, commission in furloughed pay, and other support for the industry as the economy reopens.

Property Sector Support Package