The Scottish Government has announced the rates for the new land and buildings transactions tax. The rates are set under the tax authority of Revenue Scotland, which was established by the Revenue Scotland and Tax Powers Act 2014 for the collection of taxes devolved under the Scotland Act 2012. The land and buildings transactions tax replaces the U.K. stamp duty land tax. The marginal rates are as follows:
- up to £145,000 - 0%
- £145,001 to £250,000 - 2.0%
- £250,001 to £325,000 - 5.0%
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