The Government announced the introduction of a new 2% band for non-residential leases which will come into effect for contracts entered into on or after 7 February 2020.
The rates and bands for non-residential LBTT transactions are as follows:
Non-residential transactions | Non-residential leases | ||
Purchase price | Rate | Net present value of rent payable | Rate |
Up to ยฃ150,000 | 0% | Up to ยฃ150,000 | 0% |
ยฃ150,001 to ยฃ250,000 | 1% | ยฃ150,001 to ยฃ2 million | 1% |
Over ยฃ250,000 | 5% | Over ยฃ2 million | ย ย 2% |
Internet link: GOV.SCOT Budgetย