The Treasury is considering a new tax on the sale of homes worth more than £500,000 as a step towards a radical overhaul of stamp duty and council tax, the Guardian has been told.
As the chancellor, Rachel Reeves, prepares the ground for tax rises in this autumn’s budget, senior ministers have tasked officials to study how a new “proportional” property tax could be implemented and model its impact before reporting back to ministers, who have been briefed on the proposals.
