The Deputy First Minister announced in his 2016/17 Draft Budget statement a proposal for a tax supplement on additional property purchases not intended to be the buyer's primary residence. Draft legislation,the LBTT (Amendment) (Scotland) Bill was introduced to the Scottish Parliament At the end of January and is scheduled to complete with Stage 3 on 9March. In preparation for the scheduled implementation of the Additional Dwellings Supplement in April, Revenue Scotland has been developing its systems and drafting new guidance to assist agents in providing advice to taxpayers and completing returns on their behalf. Guidance will be published in advance of the supplement coming into effect, and in the meantime, Revenue Scotland has published a set of FAQs on its website to help taxpayers and agents understand the impact of the supplement on their particular circumstances. The FAQs have been developed with reference to the Bill as introduced, and as such, are subject to change. They should be used as a guide until Revenue Scotland has published its guidance for the legislation later in March.
In addition to the information that will be available on the website, Revenue Scotland will be holding two roadshow events Edinburgh (15 March) and Aberdeen (22 March) to provide an update on the implementation of the Additional Dwelling Supplement and the changes involved in making a return for a transaction where the supplement applies. In addition to this, a webinar will be held on 24 March to offer those who were unable to attend one of the events an opportunity to hear the same messages and view a walk-through of making returns.
Further information on the roadshows and webinar is available on the events page of the Revenue Scotland website.