Scott Brown, Estate Agency Consultant at Warners Solicitors and Estate Agents, which has held the unofficial title as Edinburgh’s leading property solicitor-estate agent for 14 consecutive years since 1999, measured in terms of property sales as recorded by ESPC, said:
“Today’s announcement has created more winners than losers in Scotland.
“First time buyers and those buying up to £325,000 will be better off – in that they will pay less tax than now - from 1 April.
“For those buying a property above that sum, they will pay more in stamp duty in Scotland than in England – but the changes means they are paying less tax in terms of the original LBTT proposals.
“However, those buying above £750,000 will certainly be paying far more going forward.
“With this announcement, there are more winners than losers - and those at the lower price range are helped the most which helps the property market and the economy as a whole. We need people to be able to buy their first homes to let others buy further up the ladder.”
*Scott Brown will be provider a fuller analysis of the implications of the changes in LBTT in a later blog.