Scotland has introduced a land and buildings tax to replace stamp duty, its first new tax since the Act of Union in 1707.
The proposals are for the tax to be levied at 2% on sales between £135,001 and £250,000, 10% from £250,001 to £1m and 12% above that.
Commercial properties will also face the charge, at 3% between £150,000 to £350,000 and 4.5% above that.
An editorial in the Daily Telegraph has called the 12% stamp duty counterproductive and a tragedy.
Daily Telegraph Business, 2
Financial Times, 1, 3
