Second Home Tax Calculator – Scotland
Here’s a table that outlines the LBTT rates and the ADS for second homes:
| Price Bracket | LBTT Rate | ADS Rate | Total Effective Tax Rate |
|---|---|---|---|
| Up to £145,000 | 0% | 6% | 6% |
| £145,001 – £250,000 | 2% | 6% | 8% |
| £250,001 – £325,000 | 5% | 6% | 11% |
| £325,001 – £750,000 | 10% | 6% | 16% |
| Over £750,000 | 12% | 6% | 18% |
Let’s create a table with estimated tax calculations for various property prices:
| Property Price | LBTT Calculation | ADS (6%) | Total Tax |
|---|---|---|---|
| £100,000 | £0 (0% on £100,000) | £6,000 | £6,000 |
| £150,000 | £100 (2% on £5,000) | £9,000 | £9,100 |
| £200,000 | £1,100 (2% on £55,000) | £12,000 | £13,100 |
| £300,000 | £4,600 (2% on £105,000 + 5% on £50,000) | £18,000 | £22,600 |
| £400,000 | £14,350 (2% on £105,000 + 5% on £75,000 + 10% on £75,000) | £24,000 | £38,350 |
| £500,000 | £24,350 (2% on £105,000 + 5% on £75,000 + 10% on £175,000) | £30,000 | £54,350 |
| £750,000 | £48,350 (2% on £105,000 + 5% on £75,000 + 10% on £425,000) | £45,000 | £93,350 |
| £1,000,000 | £78,350 (2% on £105,000 + 5% on £75,000 + 10% on £425,000 + 12% on £250,000) | £60,000 | £138,350 |