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The UK plans a mansion tax on homes over £2M, starting no earlier than 2028, to raise £400M–450M annually for welfare.
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.
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.
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.
El Reino Unido planea un impuesto a las mansiones sobre viviendas de más de 2 millones de libras esterlinas, a partir de no antes de 2028, para recaudar 400 millones 450 millones de libras esterlinas anuales para el bienestar.