New Scottish property tax deemed an operational success

[Nicholas Wallwork]

The new Land and Building Transaction Tax (LBTT) in Scotland replaced traditional stamp duty on property purchases from April 2015. This was a controversial tax because while helping those towards the lower end of the housing market, it shifted significant costs to those in the middle to higher end. Now we have data for a

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[PostBrexitInvestor]

When I see the words "operational success" this makes me think of failure? However, it is dangerous to take short-term figures in isolation - the long-term trend will become clear in due course.

 

[realdeals]

If this tax had done half as well as the SNP government had hoped they would be shouting it from the rooftops! Why not just tell it how it is?

 

[Longterminvestor]

The ongoing confusion/concern regarding another Scottish independence referendum in the short term could be leading to an interesting long-term buying opportunity for Scottish property. Alternatively, if the Scottish government gains independence and the country struggles, Scottish property could be under pressure for some time to come. Personally, I think there is long-term potential in Scottish property as long as you are selective on location and buy at the right price.

 

[nmb]

Operational success is a political term for failure!

Why did the Scottish government feel the need to mess with property stamp duty rates? This has potentially cost Scotland tens if not hundreds of millions of pounds!