Mansion Tax: Flat Owners Hit by Reeves' Plan

New analysis reveals that Rachel Reeves proposed mansion tax could impact nearly one hundred thousand flats, not just mansions, in England. The tax, set to be announced in next weeks Budget, would affect properties in the highest three council tax bands, including luxury flats in new build towers and larger units in converted townhouses. The surcharge is expected to kick in for properties sold for one point five million pounds or more, with many affected flats concentrated in London areas. Critics argue the tax is a class war against Middle England, while Reeves considers allowing homeowners to defer payment until death or move-out, potentially adding another layer of inheritance tax.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.