The Scottish government has opted to increase the additional dwelling supplement (stamp duty surcharge equivalent) from 6% to 8% immediately.
In the Scottish Budget document, it said: “The additional dwelling supplement will increase from 6% to 8% with effect from 5 December 2024.
“This increase will not, however, apply to transactions for which legal missives have been signed on or before 4 December.”
The alteration means Scotland is the most expensive place in the UK to be a landlord.
John Blackwood, chief executive of the Scottish Association of Landlords, said: “Despite the Scottish Government admitting Scotland is in the midst of a housing emergency, they have decided to deal another blow to landlord investors by increasing the Additional Dwelling Supplement (ADS) from 6% to 8%.
“Instead of encouraging new investment, they seem to be going out of their way to deter new investors from buying from the many landlords who have had enough and are opting to sell.
“In the recent Autumn Budget, the UK government decided to increase a similar tax south of the border.”
In England and Northern Ireland the stamp duty surcharge was increased from 3% to 5%, with the change taking place in April next year.
Blackwood added: “The private rented sector is vital to Scotland’s housing system in providing much needed homes to rent.
“By following suit, the Scottish government is signalling clearly to the market they are not interested in new investment in Scotland.”
