The Scottish Parliament is temporarily extending the time period in which homeowners have to sell their main home after buying a replacement property and be able to claim a rebate on land and buildings transaction tax (LBTT).

The extension sees the period homeowners have rise from 18 months to three years. This extension is a consequence of the COVID-19 pandemic’s impact on the Scottish housing market.

Second home purchases are subject to an additional 4 percent in LBTT on the purchase price and when the second home is a replacement home, but there is a delay in selling the original home, a refund of the additional LB...