fbpx

Additional Dwelling Supplement Increases by 33%

In its most recent finance budget, the Scottish Government increased the Additional Dwelling Supplement by 33% from 3% to 4% with effect 25th January 2019.

The Additional Dwelling Supplement is a tax on the purchase of a second or subsequent residential property, such as a holiday home or buy to let where the value of that property is more than £40,000. It is paid in addition to the Land and Buildings Transaction tax, even where nothing is due for this tax. The increase means the the Additional Dwelling Supplement on a second property purchase of £100,000, will increase from £3000 to £4000.

The tax was originally brought in to mirror similar legislation in England and Wales and the idea behind it was to help first time buyers who were being priced out of the market by professional landlords. It has however become an easy tax for governments to manipulate and raise additional revenue. There are arguments that the lack of affordable rental property across Scotland, especially in big cities is as a result of the tax. A number of surveys have shown that landlords are exiting the market or not adding to their existing portfolios. This has resulted in an increase in rents.

There are also other potential consequences of the tax. If an individual, either on their own or as part of a couple, already owns a residential property as their main principal residence and if they then buy another property as their main principal residence, then if the existing property owned is valued at more than £40,000, they will  pay a 4% Additional Dwelling Supplement on the whole purchase price if their former property hasn't been sold. For example, if the sale of their main residence falls through but they continue with the new purchase, they will be due to pay the tax. The Additional Property Supplement can be reclaimed if they subsequently sell the original property within an 18 month period. The tax would also be payable if a couple separate and the person moving out buys another property, whilst still having a financial interest in the former matrimonial home.

 

Reviews

Heather Kirby
Heather Kirby
19:50 16 Sep 19
Polite, friendly, efficient helpful staff.Waterside staff go beyond the call of duty.No hesitation in recommending this estate agent.read more
Gail Simon
Gail Simon
02:31 31 Aug 19
Brilliant team, professional service throughout the house sale.We highly recommend anyone looking to sell their home use Waterside Property.read more
Andy Armitage
Andy Armitage
22:12 28 Aug 19
I found Waterside Properties provided me with a friendly and efficient service, I can't recommend them enough. I would gladly use them again in the future. Massive thanks to you allread more
Gerald Adamson-Eadie
Gerald Adamson-Eadie
15:47 28 Aug 19
The staff were so friendly and a pleasure to deal with, nothing was too much trouble for them......Thank You Fiona and Nikki.
Susan Brown
Susan Brown
13:15 28 Aug 19
The company was very professional and efficient. They provided guidance and support.Office Staff were approachable and and very pleasant keeping us up to date with all procedures.We had a very positive experience with Waterside Property and would highly recommend them.read more
buddajamie
buddajamie
13:03 29 Jul 19
top class a pleasure to deal with super contact and info when needed if i sell again i would use Jim + Helen Thomson
Jim Thomson
Jim Thomson
15:15 26 Jul 19
made the job of selling our house a pleasure with no stress this was the 2nd estate agent we tried sorry we did not go their firsthigh recommend Scott and his staff to every one selling their home Jim + Helen Thomsonread more
Megan Paterson
Megan Paterson
18:06 11 Jul 19
great customer service and there too help and advice every step along the way, highly reccommend waterside property dunoon
ally Noakes
ally Noakes
16:20 11 Jul 19
Very helpful and friendly staff. They all went above and beyond to help me find my first house and then continued to guide me through the process. I would highly recommend using them and i will definitely use their services again if the occasion arises.read more
Gary Whyte
Gary Whyte
10:23 19 Jun 19
First class service from Nikki and Fiona! They listened to my requirements and proactively sought out properties they knew would hit the mark! Their knowledge of the area/surroundings (I was moving 450 miles) was also invaluable and made for a more-rounded customer experience and, overall they showed commendable enthusiasm in all aspects of the job and dealings with me - they clearly enjoy what they do and surely must be a real asset and ‘shop-window’ to Waterside! Of course, a sense of humour helps ... which they both have! I am delighted to now live in Dunoon and I love my new home. Thank you Girls! My one minor comment is that the Office isn’t open at the weekends - and I know Nikki would love to work a 7-day week! Weekends is the only time opportunity potential buyers might have.read more
Denis McElhinney
Denis McElhinney
10:21 19 Jun 19
The staff are very helpful, friendly and knowledgeable. They made my search for a property easy and straightforward.
Denis McElhinney
Denis McElhinney
10:16 19 Jun 19
Can't praise Fiona and Nikki highly enough. Very efficient and friendly service. They totally get it regarding the extra difficulties in moving home to Dunoon across the water from the mainland.read more
Mck Becca
Mck Becca
06:45 19 Jun 19
Great customer service , staff are so friendly ! Would definitely recommend! Amazing from start to finish !
Christine Dain
Christine Dain
10:10 16 Jun 19
I would definitely recommend Waterside Property to anyone looking to purchase a property. Fiona and Nikki were both so helpful with the purchase of my first property. Approachable, knowledgeable, and great communication throughout the whole process.read more
Scot Hill
Scot Hill
17:41 12 Jun 19
The whole team worked very hard in finding a buyer for our flat within days. We can't thank all enough for everything they done. :)read more
May Smith
May Smith
12:31 16 May 19
We were very pleased with the way Waterside handled the sale. Scott was most helpful and took pleasing photographs. His advice was most useful. Nikki in the office was always very pleasant to deal with and assisted us beyond the call of duty. We would certainly have no hesitation in recommending Waterside Property to clients selling or buying property.read more
Helen Gillies
Helen Gillies
18:10 15 May 19
very friendly & extremely helpful staff..made house searching easy & relaxed....A1 service !
Daniel Billington
Daniel Billington
12:14 12 May 19
I was able to move in to my new property following the first viewing after 6 weeks.This was down to the efficient work of Waterside property staff. They responded to my questions promptly and they exceeded all my expectations.read more
Marta Dudek
Marta Dudek
21:53 11 May 19
Quick service, nice and helpfull staff, great communication as well.
Morag Robertson
Morag Robertson
18:57 09 May 19
We sold our property with WaterSide Property. They were helpful and supportive and always returned calls when they said they would. The use of a drone to show the house and views worked well and the agency worked hard at marketing on our behalf.read more
Lisa Laidlaw
Lisa Laidlaw
14:27 09 May 19
Sold my house recently. Great service and friendly staff.
Lisa Laidlaw
Lisa Laidlaw
14:25 09 May 19
Fantastic service start to finish.
Submarine Blackpanthersnatch
Submarine Blackpanthersnatch
09:41 09 May 19
they are a classy outfitfrom start to finish they were helpful,attentive,informative and also very funnyrelaxed but totally on the ballmy wife and i loved thembest estate agents bar none xxread more
paul leckie
paul leckie
09:37 09 May 19
Great service, couldn’t be more helpful and friendly
Iain Canning
Iain Canning
20:50 08 May 19
A very pleasant and easy transaction when moving to Innellan from England. Helped by the friendly and informative staff at Waterside.read more
Carol Pryde
Carol Pryde
16:55 08 May 19
Nikki at Waterside Property Dunoon was very accommodating, knowledgeable and with a can do approach when we decided to move to Dunoon. She arranged for us to view all of the properties we were interested in and also informed us of everything we needed to know in the Dunoon area. She made the transition from the South to the North very easy. Nothing was too much trouble. Would highly recommend Waterside Properties to others.read more
Joan Gallagher Campbell
Joan Gallagher Campbell
15:25 08 May 19
Great service, house had been on market a while with another company, we changed to Waterside and a few weeks later sold it. Thanks againread more
Roddy McLean
Roddy McLean
16:12 02 May 19
Really lovely staff -helpful and knowledgeable.
R McLean
R McLean
16:07 02 May 19
Really good level of professional service - staff are helpful and have excellent local knowledge. A pleasure to do business withread more
Dunstan Low
Dunstan Low
14:55 02 May 19
Great service all round, great communication and friendly staff!
Suzanne Longster
Suzanne Longster
21:13 26 Apr 19
Surpassed all expectations; From point of sale to completion in 6 weeks - tremendous result!! Professional service provided from all of the team at Waterside. We would highly recommend to all homeowners thinking of selling and to any prospective buyers.read more
Eloise smith
Eloise smith
12:20 17 Apr 19
Fiona and the team where excellent, her patience in showing us many houses untill we found the right one was outstanding
Eloise Scrimshaw
Eloise Scrimshaw
08:26 17 Apr 19
Fiona and the team where excellent, her patience in showing us many houses untill we found the right one was outstanding
Charmaine Love
Charmaine Love
08:13 14 Apr 19
Great service! Friendly and very helpful staff. We had an offer within a couple of weeks of putting our flat on the market. Would definitely recommend.read more
Suzanne Longster
Suzanne Longster
20:21 11 Apr 19
Surpassed all expectations; From point of sale to completion in 6 weeks!!! Professional service received from all of the Team at Waterside. Would highly recommend to all homeowners thinking of selling and to anyone looking to buy.read more
Katrina johnston
Katrina johnston
19:12 11 Apr 19
Waterside Property made the selling of our house seem so quick and easy couldn’t have asked for better ..our house sold in less than 2 weeks!! They have a very professional team who go out of their way to provide the best service to their clients. I was so happy with everything that they provided. Definate recommendation from us.read more
Katrina Johnston
Katrina Johnston
18:57 11 Apr 19
Waterside Property made the selling of our house seem so quick and easy couldn’t have asked for better our house sold in less than 2 weeks!! They have a very professional team who go out of their way to provide the best service to their clients. I was so happy with everything that they provided. Definate recommendation from us.read more
Nikki Dayton
Nikki Dayton
15:20 11 Apr 19
Great service, always a friendly, helpful voice to deal with any issues.
Ian Orr
Ian Orr
15:10 11 Apr 19
friendly and excellent staff no messing about. was very happy with the sale of the house. the house was not on the market for long and was sold fast.would use waterside again.read more
Eileen Connell
Eileen Connell
14:54 11 Apr 19
Very professional and courteous staff. The process was smooth and any queries were dealt with appropriately. Certainly would recommend them.read more
Muriel Alexander
Muriel Alexander
14:13 11 Apr 19
Waterside secured a swift sale of our property last year and we were delighted with the efficient and friendly service that all of the staff offeredread more
Angus Mclellan
Angus Mclellan
14:02 11 Apr 19
Good experience , very courteous and professional staff
Fraser Smith
Fraser Smith
13:31 11 Apr 19
Knowledgeable staff and prompt service when viewing properties. Professional service from start to finish.
Moyra Blincow Stinson
Moyra Blincow Stinson
08:51 10 Apr 19
We have dealt with Waterside on a couple of occasions, Nikki, Fiona, and Scott all absolute stars. Very helpful even when you think the questions you are asking may seem a bit silly. Thank you once again. 👏👏👏read more
David H
David H
21:59 09 Apr 19
Highly recommend waterside properties. I used their services recently to purchase a house. Staff are very friendly and professional. Everything was dealt with efficiently and promptly.read more
Alan
Alan
18:54 09 Apr 19
Absolutely first class service from start to finish from everyone at Waterside, great communication, advice and care taken throughout the process of selling my fathers house. I don't do reviews often however I felt I had to on this occasion. thanks again to all the team at Waterside..Alanread more
Paul Copp
Paul Copp
18:14 09 Apr 19
Overall the service provided by Waterside property was excellent. Our search began Feb 2018 and we finally bought property last October ( 2018). As we were living in West Wales at the time we were only able to get to Dunoon a few times but we were updated regularly about properties. Once we had decided on a property we had a lot of valuable help with the buying process. We had only had experience of the English and Welsh system so Scottish property law was something with which we were unfamiliar. The staff at Waterside were always so helpful and ready to answer our questions.read more
David J. Hegarty
David J. Hegarty
17:18 09 Apr 19
Highly recommend waterside properties. I used their services recently to purchase a house. Staff are very friendly and professional. Everything was dealt with efficiently and promptly.read more
Kay Olson
Kay Olson
10:54 09 Apr 19
Waterside was very responsive to our needs. Since we were purchasing our property from overseas this was even more appreciated. They helped us navigate the process, leading to a successful and quick purchase. We are extremely happy with their level of service and communication. Nikki was our main contact, super helpful and friendly!read more
Don McNeil
Don McNeil
20:43 08 Apr 19
The professionalism and expertise of all concerned was outstanding so much so our house was sold within a week after it went on to their websiteread more
Gail Corbett-Smith
Gail Corbett-Smith
08:30 08 Apr 19
I always found the team at Waterside very helpful, approachable and responsive. I would highly recommend them.
Elizann O'Kane
Elizann O'Kane
15:13 04 Apr 19
very helpful staff, nothing was ever too much bother, very friendly.
Darren Edmond
Darren Edmond
16:11 26 Mar 19
Scott and the team provided fantastic service when I was buying my property. Smooth process start to finish there were no issues. I would highly recommend them, keep up the great work. Many thanksread more
Desmond Leach
Desmond Leach
12:15 26 Mar 18
Allan Fisher
Allan Fisher
14:00 26 Nov 17
Thanks to Waterside Property Dunoon for a lovely meal up in The Braes we were given off them . Thank you
Christine Ferguson
Christine Ferguson
19:20 02 Oct 17
Waterside helped us get a very quick sale of our house last year. Most impressed by their staff throughout the process. Extremely professional and helpful. Made what's supposed to be a stressful time so much easier!read more
Fiona McLauchlan
Fiona McLauchlan
17:25 23 Jun 17
Scott, Nicky and Leigh fabulous, fantastic, brilliant always go to Waterside ���
Joanna Baryla
Joanna Baryla
23:21 13 Apr 17
Dougie Wallace
Dougie Wallace
05:37 04 May 15
Liz miller and all the staff spot on
Llaura J Mort
Llaura J Mort
23:50 01 Apr 14
Moira-Ann Gallanagh
Moira-Ann Gallanagh
20:31 01 Apr 14
Excellent customer service from very helpful staff.
Karen Torlay
Karen Torlay
16:17 01 Apr 14
Wonderful friendly staff!
Alastair Brown
Alastair Brown
14:33 26 Jun 13
We dealt with Scott and he could not have been more helpful in helping us secure a deal on the property. Negotiations got a bit strained between both sides, however, Scot helped smooth it all out so that we eventually got over the finish line.read more
Next Reviews