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Property Tax

Are you looking for property tax advice? The specialists at The Kelvin Partnership will make sure that the taxation on the property you own is taken care of. We will make sure you have the tax information needed when you are renting, selling, buying or developing property.

We know that it can be difficult to make sense of the Scotland’s complex property tax regulations. This is why you should trust the team from The Kelvin Partnership to take over the role and minimise your tax liabilities. We can help! Whether you are investing in property or are currently the landlord; effective tax planning could greatly improve your position when buying property.

Property Tax Advice from The Kelvin Partnership

Scottish Property Tax

In Scotland, Stand Duty Land Tax (SDLT) was replaced by the Land and Building Transaction Tax (LBTT) in 2015. LBTT is a tax applied to the transactions of residential and commercial land and buildings.

What is Land and Buildings Transaction Tax? (LBTT)

You are obligated to pay LBTT when buying a residential property or land, which costs more than £145,000. This tax obligation still applies even if you are buying the property with a mortgage or not. Depending on how much the property you are buying costs there are several bands of LBTT tax. The Kelvin Partnership team will make you aware of the band you fall into and so, the necessary payment. Also, if you are buying a second home or a buy-to-let property you are still obligated to pay 3% extra of LBTT tax.

Why use The Kelvin Partnership for Property Tax Services?

The Kelvin Partnership can ensure that you are adhering to the Scottish tax regulations, as well as HMRC. You may be in a situation where you are paying more tax than necessary! And so, an accountant will meet with you to talk about the situation and work through your property tax needs. Our specialists will apply their skill and experience by helping you consider any property related issues you may not have previously thought about. By handing over the responsibility of property tax to our team you will be able to relax knowing that every important piece of paperwork is going to be filed and completed correctly.

Trust The Kelvin Partnership with your property tax needs.

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Please contact us if you need further advice, have any questions about our services, would like a free consultation or a fixed fee quote.