|Leading Professional Contributors|
Will Hollest, Robert Bailey Property
Impact of tax changes for UK property
Will Hollest of Top 25 Property Buyers Robert Bailey Property looks at the latest trends in the residential market
UK Mansion Tax could 'slay the proverbial golden goose'
Two of the major political parties, Labour and the Liberal Democrats, have announced plans to introduce the Mansion Tax should either gain power at the next election. The tax would see homes valued at £2 million or more subject to an annual levy. The amount to be paid would differ depending on which party's version of the tax is implemented but Labour's version would see those in the lowest band with houses valued between £2-5 million incurring a tax of approximately £250 per month or £3,000 per year.
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