Business secretary Vince Cable is likely to succeed in pushing a mansion tax though parliament in the Autumn Statement, tax specialist Baker Tilly has said.
Liberal Democrat Cable wants to tax homes worth more than £1m - a policy that has been staunchly fought by his coalition partners on the Conservative side. Baker Tilly's Lakshmi Narain said the mansion tax would be crafted around a new annual charge on ‘enveloped' residential properties, those homes which are held by a corporate entity like a company. The threshold for the charge would be set at £1m, and would be expanded to include all residential properties, not just enveloped ones, the tax adviser predicts. Lakshmi said: "I think Vince Cable will win. I think in the next few yea...
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