Government consults on 'mansion tax' proposals

Following implementation of the High Value Council Tax Surcharge (HVCS), homes worth between £2m and £2.5m would pay £2,500 a year, those worth £2.5m to £3.5m would pay £3,500, those worth £3.5m to £5m £5,000, and those worth more than £5m £7,500. The ‘mansion tax', announced in the 2025 Autumn Budget, is expected added on top of council tax from April 2028. It will be payable by the owner rather than the person living in the property – in some cases this will be the leaseholder. AJ Bell head of personal finance Sarah Coles said the  cost "won't break the bank" for those on high incom...