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Evening Standard
Evening Standard
Emma Magnus

What does a 'mansion' look like in London? £2m homes that will be liable for Reeves' surcharge from 2028

Chancellor Rachel Reeves announced in her autumn Budget that Labour will be implementing a new “mansion tax” on properties valued at over £2 million.

Under the new ‘high value council tax surcharge’, set to come into force in April 2028, homeowners will pay an additional annual tax on properties above this price point.

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