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Tag: SCOTLAND

SCOTLAND

  • A look at the closed bids process of buying a Scottish property

    amoore70

    The closed bids process, also known as the “sealed bids” or “offers over” system, is a common method for buying property in Scotland. This system is designed to encourage competitive bidding and can often result in a higher sale price for the seller. Here’s an explanation of how the process works: This closed bids process… Read more

  • What is land and buildings transaction tax?

    amoore70

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    Land and Buildings Transaction Tax (LBTT) is a tax on property transactions in Scotland. It was introduced on April 1, 2015, replacing the Stamp Duty Land Tax (SDLT) in Scotland. LBTT is administered by Revenue Scotland and applies to residential and non-residential property purchases and leases. Key Points of Land and Buildings Transaction Tax (LBTT):… Read more