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Deputy First Minster John Swinney announced a number of changes yesterday in order to try and raise additional revenue to support Scotland’s NHS and other public services. One of them being an increase to the Additional Dwelling Supplement (ADS), impacting those purchasing a second home or investment residential property.
ADS is a one-off tax on purchases of second homes or residential properties which are bought for investment purposes, and is paid in addition to LBTT (Land and Building Transaction Tax). With effect from today, 16th December 2022, the ADS will increase from 4% to 6%, except for where the effective date (usually the date of completion) is prior to that date.
