What is the new mansion tax? All you need to know
Chancellor Rachel Reeves has announced the introduction of a new "mansion tax" on properties valued at £2m and over as one of the measures unveiled in her It’s estimated that around 0.4% of properties, about 145,000, according to Savills, will be affected by this extra fee, which the government is describing as a "high value council tax surcharge"./ Unlike council tax, however, the extra money will not go to local councils but directly to the Treasury. The Office for Budget Responsibility (OBR) expects this new tax to raise about £400m a ...
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