Mansion Tax Is an ‘Assault’ on London’s Property Market
- From April 2028, owners of properties in England valued at over £2 million will pay a new annual high-value council tax surcharge, divided into four bands.
- Properties valued between £2 million and £2.5 million will incur a surcharge of £2,500, while those valued over £5 million will face a charge of £7,500.
- The new tax is expected to raise about £400 million annually for the Treasury.
- Residents affected by the tax, particularly in London, have voiced their frustration, with some stating that their homes do not qualify as 'mansions.
13 Articles
13 Articles
Mansion tax is an ‘assault’ on London’s property market
The UK’s new ‘mansion tax’ is set to hit homeowners in London hard, particularly for middle-class Londoners who have seen the price of their property balloon in the last two decades. Chancellor Rachel Reeves introduced a new high-value council tax surcharge for owners of properties valued ...
Reeves hits property market with £1bn mansion tax and landlord levy | The latest National and International News
The Chancellor has announced a property tax shake-up with a new levy on expensive homes and a tax hike targeting landlords (Lucy North/PA) Lucy North Chancellor Rachel Reeves has announced a double tax hit on the property sector, targeting both expensive homes and landlords in a move projected to raise nearly £1 billion annually. The measures, unveiled in Wednesday's Budget, include a new "mansion tax" on properties worth over £2 million and a t…
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