Latest News

Surge in the number of prospective tenants seeking properties

26 February 2021

ARLA Propertymark’s first Private Rented Sector Report covering January shows the number of new prospective tenants rose by more than 27 per cent compared to December 2020 indicating no sign of demand slowing down. Read More...

Renting Homes (Amendment) (Wales) Bill introduced

24 February 2021

The Welsh Government has announced the introduction of the Renting Homes (Amendment) (Wales) Bill which extends the minimum notice period from two to six months alongside other new provisions and will be implemented before the end of its current Assembly (May 2021). Read More...

Landlord case makes legal history

24 February 2021

A Wales based landlord pleaded guilty to harassing a tenant, which is the first time a case of this nature has been brought to the Crown Court and received a six-month jail term suspended for two years. Read More...

Property expert Nathan Emerson becomes Interim CEO of Propertymark

24 February 2021

The Board of Propertymark has asked Nathan Emerson to assume the role of Interim CEO with immediate effect. Nathan’s appointment will provide great stability for the organisation, its staff and its members and will ensure that the operational delivery of its new and exciting strategy is taken forward. Read More...

LBTT holiday will not be extended

Thursday 28 January 2021

The Scottish Government has announced in their Budget 2021-2022 that the change to the residential LBTT nil rate band, introduced in July 2020, will not be extended but the 100 per cent non-domestic rates relief will be for at least the first three months of the financial year.

From 1 April 2021 onwards, the ceiling of the nil rate band will return to £145,000 for residential properties and all other bands will return to the previous rates.

First-time buyers

The Scottish Government’s first-time buyer relief will continue to be available which has the effect of raising the nil rate band to £175,000 and results in a reduction of tax of up to £600.

Additional Dwelling Support

The Additional Dwelling Supplement (ADS) rate will remain at 4 per cent but the Scottish Government has stated that they recognise there are several long-standing calls for change regarding aspects of the ADS, including:

  • To extend the length of time within which a previous main residence must be sold for a repayment to be claimed
  • To address various scenarios involving joint buyers.

In light of this, the Scottish Government has said that it will not be possible to bring forward legislative proposals in this Parliament and they plan to consult on this early in the next Scottish Parliament to identify and agree reforms that can address the concerns.

The ADS rate of 4 per cent applies to the total price of the property for all relevant transactions above £40,000 and will be charged in addition to the relevant LBTT rates.

Non-residential property and conveyancers bands

Existing non-residential LBTT rates and bands for conveyances and leases will remain unchanged.

Non-domestic rates relief

Following the publication of the Scottish Budget 2020‑21, and in response to COVID-19, the Scottish Government introduced 100 per cent relief (RHL relief) for the retail, hospitality, leisure and aviation sectors and a 1.6 per cent universal relief. The universal relief will end on 31 March 2021 as legislated. However, the Scottish Budget commits to extending the 100 per cent RHL relief for at least three months.

Poundage rate

The Scottish Government has decided to reduce the Basic Property Rate ('poundage') to 49 pence, the same as in 2019-20, which is said to save Scottish ratepayers over £120 million compared with previously published plans.

Scottish Budget 2021-2022

Quote mark

We are disappointed that the Scottish Government has not backed the housing market in its Budget today. By not extending the LBTT holiday deadline beyond 31 March as well as demonstrating a reluctance to redraw LBTT rates and bands, they have wasted the opportunity to help the market continue its recovery. Whilst it is welcome that the first-time buyer relief will continue, it is disappointing that the Scottish Government was not more ambitious while also missing the opportunity to bolster the First Home Fund.

Daryl McIntosh

Daryl McIntosh
Propertymark Strategic Development Manager