The Land and Buildings Transaction Tax (LBTT) was introduced on 1 April 2015. This replaced Stamp Duty Land Tax which was devolved to the Scottish Parliament as part of the Scotland Act 2012. The Committee is interested in hearing views on the operation of the tax since 1 April including:
- The impact on both the residential and commercial property market of the various rates and bands;
- The level of receipts for residential and non-residential transactions in relation to the forecasts;
- The extent to which higher priced transactions were brought forward to avoid the higher rates;
- The extent to which lower-priced transactions were delayed until after 1 April;
- Whether there should be any changes to the rates and bands for residential transactions in the draft budget for 2016-17;
- The performance of Revenue Scotland in administering and collecting the tax.
How to submit your evidence
The closing date for responses is Friday 2 October 2015.
All responses should be sent electronically (in Word format – no confirmatory hard copy required) to [email protected]. Written responses will be handled in accordance with the Parliament’s policy for handling written evidence received in response to calls for evidence. All written evidence received may be published by the Parliament and will be treated as a public document. If you wish to submit evidence in confidence or anonymously please read the policy at the link above.
What happens next?
The Committee will be considering those witnesses it wishes to hear oral evidence from in due course, informed by the written evidence received. Oral evidence sessions are likely to be in late October and November.
Contact
Should you require alternative formats of this information or further assistance in making a written submission to the Committee, please do not hesitate to contact the clerking team of the Committee via the email address above or by telephone on 0131 348 5451.