mansion tax
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Housing Market
BLOG: How would a mansion tax affect estate agencies?
Chancellor Rachel Reeves considers a Mansion Tax Eamon Shahir looks at how this would affect estate agents operating under and above its £2m threshold.
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Regulation & Law
150,000 homes to pay Rachel Reeve’s Mansion Tax, predicts estate agency
Chancellor’s proposed levy would unfairly target London, with ‘mansion’ values threshold far lower than elsewhere, according to Knight Frank analysis.
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Housing Market
BLOG: Is a mansion tax such a bad idea for the housing market?
Leading London estate agent argues that taxing only those with homes over £2 million will be bad for the housing market, Britain's wealth and Labour's future electability.
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Housing Market
BLOG: Labour’s endless tax proposal ‘leaks’ must stop
"The Job of the newspaper is to comfort the afflicted and afflict the comfortable" Paraphrased from Mr Dooley, a character created by Finley Peter Dunne, 1893.
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Housing Market
Chancellor mulls annual mansion tax for £2m+ prime properties
Leak to a national newspaper over the weekend reveals Rachel Reeves is eyeing the UK's wealthy to help plug the UK's huge fiscal hole.
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Latest property news
Tory MP calls for Chancellor to consider single ‘property tax’ to stimulate market
John Stevenson says replacing Stamp Duty and Council Tax with a single annual property tax would free up hundreds of thousands of transactions.
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Latest property news
Johnson makes U-turn on mansion tax plans after heartlands backlash
Boris Johnson has scrapped government plans to introduce a mansion tax after a backlash from his party’s traditional bricks-and-mortar owning heartland. Over the weekend the new Chancellor Rishi Sunak said it was ‘highly unlikely’ that the measure would proceed, while the Prime Minister is said to have ‘cooled’ on the idea despite heralding it last week as a key policy to enable the UK to be ‘levelled up’ economically. But another reason for the ditching of the idea has been forming over the weekend among political commentators; that the mansion tax proposals were part of a plan by Johnson and his chief aide Dominic Cummings to oust Sajid Javid from No.11 if he didn’t go along with their plans to downgrade the power of HM Treasury. The idea was clearly not Javid’s. As property industry figure Trevor Abrahmsohn (left) found out after attending a private meeting recently with the now former Chancellor, he is unlikely to have adopted what has been in the past a Labour policy. “It was evident that he was a ‘fiscal pragmatist’, i.e. he believed in the notion that taxes are designed to raise as much money as possible for the Treasury, rather than being a…
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Features
Stamp Duty is killing market growth
The Stamp Duty Land Tax on a £5m home in London would buy a beautiful villa in Italy, says Andrew Symington, Symington Elvery.
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Housing Market
Mansion Tax would be bad for property, warns agent
With just over a week until the General Election, London based estate agents Sandfords has joined a chorus of other industry experts and warn of the possible ‘disastrous consequences’ for the residential property market if Labour is elected into power. The estate agency firm is particularly concerned about the party’s plans to introduce a mansion tax on all homes worth more than £2 million, and the potential impact that the levy could have on the housing market in London as well as other parts of the country. _“In the immediate run up to the Election we are seeing a lot of influential individuals, economists and agents shouting about the reality of a Labour Government and the effects their proposed mansion tax will have on the whole property market, and not just in London,” said Tim Fairweather, a Director at Sandfords. “We have voiced our fears of Labour’s taxing policy on numerous occasions ever since its proposal but it’s now increasingly apparent that it will provoke far reaching problems that will have an effect on millions of everyday people,” he added. Although Labour insist that they want to help aspirational homeowners gain a foot on the housing ladder, Fairweather claims that…
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Housing Market
Lib Dems reiterate Mansion Tax ambition with Election manifesto
The Liberal Democrat party has placed housing at the heart of its election manifesto, revealing plans to introduce a £100 cut in council tax for 10 years for people who insulate their home, as well as confirming that it plans to introduce a ‘mansion tax’ – originally a Liberal Democrat policy – on residential properties worth £2 million or more. Homes worth between £2 million and £2.5 million would face an annual mansion tax of up to £2,000 a year, under Liberal Democrat plans. Nick Clegg (left) confirmed the Lib Dems had scaled back the policy and it would now raise only £1 billion – considerably less than the £1.7 billion initially proposed. Mr Clegg commented, “It is less than originally mooted but as we have worked up the idea, looked at what we think is reasonable and fair, we think this is a reasonable and fair way of doing it and shouldn’t scare the horses.” The Labour Party has also proposed its own mansion tax, which would see properties valued between £2 million and £3 million paying £250 a month or £3,000 a year. The party is yet to set out details of higher bands. The Lib Dems’ manifesto,…
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