Land and Building Transactions Tax (LBTT) was introduced in Scotland in April 2015 to replace Stamp Duty Land Tax on purchases and leases and other transactions relating to land and buildings. The maximum rate chargeable on commercial property transactions is 4.5%. Higher rates apply for residential property. The sub-sale relief that was available for SDLT does not apply for LBTT, apart from a qualified relief in the case of development transactions, where the relief is clawed back by Revenue Scotland unless development takes place within five years. For more information, please contact Ken Gerber of Anderson Strathern at: ken.gerber@andersonstrathern.co.uk