FREE tenancy agreement
FREE landlord softwareA more progressive system is expected to be introduced, to replace the current UK Treasury 'slab rates'.
The Scottish Finance Secretary, John Swinney believes the changes in the Land and Buildings Transaction Tax (Scotland) Bill will see the tax threshold increase, from the existing 125k to 180k purchase price.
Mr Swinney told the Scottish Parliament that the new property tax system would provide "a system that will meet the needs of a modern, 21st Century Scotland".
Read more in the BBC
Read more on the devolution of the Scottish tax system on the HM Revenues site
The NewStatesman calls for the rest of the UK to follow
Free tenancy agreement
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The devil is in the detail here. buyers of typical BTL properties could end up paying more under the new tax than they currently do. It depends on how the tax is structured. See http://blog.gspc.co.uk/2013/06/25/will-stamp-duty-replacement-be-fair/ for an explanation.
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