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Mansion Tax: What do you need to know?

Thu 19 Mar 2015

Mansion Tax: What do you need to know?

What is the Mansion Tax?

This is a proposed new tax from the Labour and Liberal Democrat parties which could be levied on owners of homes valued at £2m+ if they win an outright majority in the elections.

Those described as overseas owners of second homes in the UK may end up paying an enhanced rate.

Whilst there are no confirmed figures as yet, it is estimated that there are anywhere between 55,000-110,000 properties valued above the £2m mark in the UK.

According to a leading estate agents the market is showing some signs of reacting to the prospect of this Mansion Tax and demand has fallen slightly since last autumn.

Claire Prince provides a 7 point guide to the Mansion Tax - Mansion Tax Newsletter

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