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Tax to increase for second home owners

13 December 2018 Property & Estate Agency Gillian Ralph

Buy-to-let landlords or those who are considering buying a holiday home should act now before the Additional Dwelling Supplement (ADS) increases.

The Scottish Budget delivered a blow for landlords and holiday home buyers, introducing a 1% increase on the tax payable when buying a second property. If approved by the Scottish Parliament, the ADS will increase from 3%-4% on 25th January 2019. 

Landlords would have to be very quick off the mark to complete before the surcharge on Land and Building Transactions Tax increases next month.

 

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