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New Mansion Tax Expected In Upcoming Budget On 11th March 2020

By Team Focal

The Chancellor, Sajid Javid has this week revealed plans to unveil a new Mansion Tax in the upcoming budget on March, 11th. 

 

The tax which is said to have the blessing of Boris Johnson would see prime properties pay an annual tax (based on the homes value) or be included in a new, higher council tax band.

 

The plans have been met with a lot of scrutiny with many estate agents expressing fears over how it could impact sales in the high end market. 

 

Commenting on the tax, one agent said:

 

“This seems very much like a Robin Hood tax and will most certainly discriminate those that have inherited or worked hard for what they have got…

 

“We have just had a general election and none of this was mentioned. I feel that many voters will be very angry at this proposal, particularly those living in the south who will be most affected. If we had supported a mansion tax or similar we would have voted for Corbyn.”

 

You can read more on this story over at The Negotiator here. 

 

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Tags: Estate Agent News

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