The additional dwelling supplement (stamp duty surcharge) in Scotland has raised £197m in the past 12 months, which accounts for 30.8% of the total property tax receipts north of the border.

The supplement is charged on second homes and properties purchased by landlords and property investors to rent. Overall, £640m was raised in Scottish property taxes.

David Alexander, the chief executive officer of DJ Alexander Scotland, said: “LBTT, like Stamp Duty Land Tax (SDLT) in England, is a big earner for governments. You can’t hide a house purchase, so you have to pay up or move to where the purchase costs are not quite as punitive.

“Quite what the long-term impact on the Scottish economy of such higher taxes on homes and employment will be can only be determined if higher taxes begin to contribute to the idea that Scotland is an expensive to live and work. If it starts to deter individuals and companies from future investments in Scotland, then far from being progressive taxation it will be regressive. However, until that point, this remains a substantial revenue earner for the Scottish Government.”