In that leftie online business magazine, Insider, today:
‘The Scottish Budget for 2019/2020 was introduced to the Scottish Parliament by Derek Mackay, Cabinet Secretary for Finance, Economy and Fair Work on 12 December 2018. The Budget contains a proposal to increase Ads from 35 to 4% of the relevant consideration. ADS is an additional amount of Land and Buildings Transaction payable on the purchase of a second residence in Scotland, e.g. a second home or a buy-to-let property. This additional amount of LBTT was only introduced relatively recently, in 2016.’
A 1% increase might not seem that radical but it means that a second home bought for £200 000 would require a payment of £8 000 as opposed to £6 000 in 2018.
This news follows earlier example of Scotland’s tax system diverging from that of the UK, and in a progressive manner: