Lib-Dems “Mansion Tax” proposal

Nick Clegg unveiled his proposals yesterday regarding how the mansion tax bands would be applied, he confirmed the Lib Dems had scaled back the policy and it would now raise only £1 billion – far less than the £1.7 billion initially proposed.

It was reported that in the details of the Lib-Dem proposals, properties worth between £2 million and £2.5 million would now face an annual “mansion tax” of up to £2,000 a year,  then being scaled as follows, the tax would be capped at £3,500 for properties worth between £2.5 million and £3million, £5,000 for properties worth £3 million to £4 million, and £9,000 for properties worth between £4 million and £5 million.

The Labour Party has already proposed its own plans for a  “mansion tax” which so far has not been that well received by the property industry, they have as yet only given out details re the lower bands, the party is yet to set out details of higher bands.

Mr Guy Grainger, the UK chief executive of one of the world’s largest property groups has been reported as saying “The mansion tax is really clumsy… and will bring with it huge administration costs and a massive amount of appeals.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News


Daily bite-sized proptech and property news in partnership with Proptech-X.   MyIdentity selects Armalytix to create a proof-of-wealth solution for the property market Armalytix, the open banking technology platform which streamlines the collection of data for the professional and financial services industries, has been selected to be an attribute provider for the government-backed MyIdentity scheme,…
Read More
Software & Tech

The Future Of Healthcare Technology

As researchers, innovators and legislators work to improve access, effectiveness, cost, and accessibility of healthcare, the future of healthcare technology is in flux. Healthcare innovation is a key battle in the fight for human longevity. Here we will discuss the leading medical technologies in HIE software that are leading the way towards a brighter future.…
Read More
5 Great Property Management Software in the UK
Letting Agent Talk

Five of the Best Property Management Software for Landlords

Being a successful landlord requires a good relationship with your tenant, ultimately you want your property to be treated well, get paid on time and build long term relationships. Management of property has come a long way in recent years especially since the internet and certainly thanks to management software and apps. Today there are…
Read More
how to present your property for sale
Letting Agent Talk


Recent research reveals there has been an exponential rise in disrepair claims over the past five years, with more than £55.1m paid out across 70 English councils that own their own stock. (Source: Inside Housing, February 2022). Legal costs nearly doubled between 2017-18 and 2020-2021, while the number of cases increased by 132%. Of the…
Read More
Breaking News


Daily bite-sized proptech and property news in partnership with Proptech-X.   PRESS RELEASE: BriefYourMarket partnerships take lead generation to next level Generating and nurturing leads is the backbone of estate agency. According to Richard Combellack, Chief Commercial Officer at BriefYourMarket, this is exactly what BriefYourMarket is about, finding and nurturing new leads via a variety…
Read More
Home and Living

5 Gas Safety Tips to Keep You Safe at Home

Houses with safety hazards are not desirable, since they endanger the lives of their occupants. The value of your home diminishes if you’re your house and property are damaged, including gas appliances. Therefore, all owners, landlords, and tenants have a responsibility to have the appliances they own tested for functionality. Check all of your household…
Read More