Does it make sense to introduce a mansion tax in the UK?

[Nicholas Wallwork]

The Labour Party this week announced plans for a mansion tax in the UK which would see an additional tax on properties worth in excess of £2 million. This is not the first time that the Labour Party has proposed such a tax and while it is headline grabbing, and plays to the core Labour [...]

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[josephc247]

I find it a little dodgy. Even the commercial property listing companies are reacting to it saying that it would unfairly "punish" homeowners who are already paying a hefty sum in taxes for their properties. There are roughly a hundred thousand homes in London and in the South East that would be affected by the introduction of a mansion tax - which they will find a bit misleading as owners of 3-bedoom properties maybe caught by it.

More so, this could just be another way to fudge a more important issue - building more homes and catching up with the increasing demand for properties.

 

[totallyproperty]

Hi Josephc247

I agree with many of your points - this is just a headline grabbing policy which the Labour Party seems to roll out every time they are struggling. Bashing the so called rich in the UK seems to be a good political pastime.

I have read on numerous occasions that a mansion tax would bring nothing into the government coffers after the cost of collecting the tax and setting up the system is taken into account. Crazy!

Regards,

Mark

 

[frasermeridies]

josephc247 i am also agree with your views. And search on search engines for best tax services.