The Scottish finance minister John Swinney is to introduce a three per cent surcharge on the full purchase price above £40,000 of all ‘additional properties' - buy to let and holiday homes - from April 1.
Scotland had been the only part of the UK to which a similar three per cent stamp duty surcharge had not been introduced by the UK Chancellor, George Osborne, in his autumn statement.
Swinney now says that from April, for properties purchased for over £40,000, a similar three per cent surcharge will be levied. This will be in addition to the Land and Buildings Transaction Tax charged on the property in the usual way.
LBTT was introduced in Scotland earlier this year, to replace the stamp duty which applies across the rest of the UK.