Mansion Tax

  • A tax proposed by political parties (Liberal Democrats) on owners of high value properties which exceed a certain threshold (£2m).
  • Any value over the threshold would suffer an annual tax at 1% per annum.
  • In areas like London this would catch untended home owners who despite owning such properties are not necessarily “rich”.
  • Also viewed as the Robin Hood Tax – robbing the rich to benefit majority voters – I mean the poor.
  • This is an extension of UK’s Council Tax
  • See also ATED
  • See impact of reforms in SDLT in December 2015 – a one-off as opposed to an annual tax

What are your thoughts?

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