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
See also
Published: 28 September 2015
Last Updated: 13 January 2022