US EditionRachel Reeves to hit 100,000 properties with mansion tax to balance books: The Times
The mansion tax targets over 100,000 of the priciest UK homes, aiming to raise £400–£450 million via council tax after revaluation of top bands F, G, and H.
- Introducing a surcharge, the chancellor aims to hit over 100,000 of Britain’s priciest homes with an average of 4,500, collecting £400-£450 million via council tax bills.
- As part of a broader tax package, Rachel Reeves, Chancellor, includes the property levy in a 'smorgasbord' of tax rises after scrapping the two-child cap and raising benefits, which are projected to raise £8-£10 billion.
- The plan would use a revaluation of 2.4 million properties across bands F, G and H, with the threshold £2 million and deferral until move house or death, according to the Treasury.
- The Office for Budget Responsibility warned the surcharge could slow the housing market and trigger 'bunching', but a government source said fallout should be minimal and implementation is unlikely before 2028.
- Set against a wider fiscal squeeze, commentators call the measure a compromise that may undermine building 1.5 million homes and sits alongside other revenue measures, including a 4 billion raid on pension contributions.
26 Articles
26 Articles
Government targets expensive homes and landlords with property taxes
Experts said the new high value council tax surcharge, dubbed a ‘mansion tax’, could have knock-on effects for the property market. The Chancellor has announced a property tax shake-up with a new charge on expensive homes and a tax hike targeting landlords. Rachel Reeves said she was introducing a high value council tax surcharge in England on homes above £2 million from April 2028. The move is intended to target more expensive homes to make the…
Tax the rich, feed the poor — its not rocket science Reeves
Rachel Reeves has announced that she’ll finally lift the two-child benefit cap in her crushing autumn budget. This is probably a good thing, given that third and fourth children also need to eat food and, you know, subsist. Early reports indicate this may even be true of poor children, though, oddly, we have no definitive data on that. Kemi Badenoch, in a rare display of cross-party unity, explains how budgets work: On Wednesday, Starmer and Ree…
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