Into the mainstream: property taxation on the agenda

A key (and much trailed) feature of the Chancellor’s budget today was the introduction of higher stamp duty rates for properties worth more than £2 million. Let’s call it ‘mansion tax lite’. The coalition will also be clamping down on stamp duty avoidance, raising stamp duty even higher for foreign owners of high value homes, and consulting on an annual tax of 15% for certain ‘non-natural persons’ buying mansions. (Non-natural persons is a bit of a funny phrase, … Read more