Mactaggart & Mickel Homes to pay LBTT for first-time buyers on homes priced up to £300,000 in wake of Government budget announcement on abolishing stamp duty
- Scottish family housebuilder will pay Land and Buildings Transaction Tax (LBTT), the Scottish equivalent of stamp duty, for first-time buyers on homes priced up to £300,000
- Stamp duty on homes up to £300,000 in England and Wales was abolished for first-time buyers in the Budget
- A first-time buyer in Scotland can currently expect to pay £4,600 of LBTT on a £300,000 property
Fourth-generation Scottish family housebuilder Mactaggart & Mickel Homes have announced today that they are responding to the Government’s announcement on stamp duty by following suit to help first-time buyers get on the housing ladder.
From today, Friday 24 November, Mactaggart and Mickel Homes will pay the Land and Buildings Transaction Tax (LBBT), the Scottish equivalent of stamp duty, for first-time buyers purchasing homes priced at up to £300,000 until the end of April 2018.(1)
Director Joanne Casey said: “Although the Scottish budget won’t be revealed until mid-December, we have taken the decision to act immediately and pay the LBBT for first-time buyers on homes priced up to £300,000. This will help more first-time buyers get a foot on the property ladder, by saving them up to £4,600 when buying a Mactaggart & Mickel home.”
Mactaggart & Mickel Homes are an award-winning family business with over 92 years of design and construction expertise with developments in Edinburgh, Midlothian, Glasgow, Ayrshire and the Clyde coast.