In the UK can be introduced a new tax for houses worth more than £2 million

Oct. 3, 2016

In the UK can be introduced a new tax for houses worth more than £2 million

In the United Kingdom is currently re-examined the introduction of a tax on mansions. Perhaps owners of property worth from £2 million (€2,318 million) would be forced to pay 1% of the cost to the Treasury annually.


The tax will be levied on about 91 000 objects (80% of them are in London). The British Treasury should receive £1200 million (€1.39 million) in the first year of the law.


The new tax has many opponents who believe that such actions will hurt the economy and will create obstacles for investors. Additionally, potential buyers can leave the cities and start to buy up housing in small cities in the UK.

We will remind, that in 2009 the British government considered the possibility of introducing a mansion tax, but then this didn’t happen.

Based on the materials of idealista.com

Photocredit Depositphotos.com