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flag The UK plans a mansion tax on homes over £2M, starting no earlier than 2028, to raise £400M–450M annually for welfare.

flag Chancellor Rachel Reeves is set to introduce a new mansion tax targeting homes valued at £2 million or more, affecting over 100,000 high-value properties, primarily in London and the south-east. flag The levy, part of a broader fiscal plan, will generate £400–450 million annually and be added to council tax bills with a deferral option until sale or death. flag The policy, aimed at increasing tax fairness and funding welfare expansions like scrapping the two-child benefit cap, follows a planned revaluation of 2.4 million homes in bands F, G, and H. Implementation is expected no earlier than 2028, with concerns over market disruption, legal challenges, and regional disparities.

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