LBTT For First Time Buyers
First-time buyers in Scotland can claim first-time buyer relief from Land and Buildings Transaction Tax for their own home only. This measure was introduced to make it easier for first time buyers in Scotland to buy their first home.
The LBTT rate for Scotland’s first-time buyers is 0% up to a purchase price of £175,000 instead of £145,000. First-time buyers pay the normal rates of LBTT above £175,000.
So for example on a property priced at £200,000 the normal amount of LBTT payable would be £1,100 but first-time buyers in Scotland will pay just £500.
The easiest way to find out how much LBTT you might have to pay is to use a Land and Buildings Transaction Tax Calculator.