Land & Buildings Transaction Tax (LBTT) revenue, including Additional Dwelling Supplement (ADS) on second homes, has reached a record high in Scotland of over £600m.
Analysis from property firm Rettie & Co has revealed that 63% of house sales are now over the minimum £145,000 threshold on which LBTT has to be paid, representing the highest proportion of transactions since the introduction of the tax in 2015/16.
John Boyle, director of research at Rettie & Co, said: “When LBTT was introduced, more than 50% of transactions fell under the £145,000 threshold.
