Almost £13million a week was raised in property taxes for the Scottish Government, new analysis has revealed.

The findings by property group DJ Alexander found that revenues from Land and Building Transaction Tax - which is Scotland’s equivalent of stamp duty - increased by 17.7% to £686.5million during the past 12 months.

It is £102.8m higher than between March 2023 and February 2024, when £583.7million was raised.

These taxes are levied at 10% for homes in Scotland that cost more than £325,001.

Higher costs

In a statement, the company explained: “To put this is perspective, this is more than £13m a week contributed to Government coffers by people who simply want to buy a home. What is more remarkable is that such buyers are regarded as being those with the broadest shoulders and therefore those who must pay more for the privilege of homeowning.

“Indeed, most of those who have to pay this tax will also have to pay higher personal taxation, which begins at just under £29,000.

“With average incomes in Scotland around the £38,000 mark it means that those who are being charged much more than their peers south of the Border are not living an extravagant millionaires’ lifestyle but are, instead, simply people doing necessary jobs and trying to make their way in the world.

“These are the incomes of plumbers, chefs, sales managers, senior drivers, and administrators. An even higher tax band impacts upon nurses, teachers, and police officers. These are people who are keeping the country going yet who are disproportionately penalised if they dare to want to earn a living or buy a home.”

He added: “Some thought must be given to those who pay the additional dwelling supplement (ADS), which raised £205.6m of the £686.5m total taxes raised.

“This tax is charged on second homes and properties purchased by landlords and property investors to rent and represents 29.9 per cent of the total raised and is £43.8m higher than the previous 12-month period.

“Some acknowledgement that it is a very positive situation that people continue to be happy to invest in Scotland despite the punitive taxation would be welcome.”

‍