There are better alternatives than a mansion tax for politicians to find revenues in the short to medium term, Alex Henderson writes.
There has been much noise in recent weeks about a possible mansion tax on properties worth over £2m.
It’s easy to see why governments might eye up the UK’s property as a potential source of revenue. Home owners in prime central London in particular have benefited from continued rises in property prices. Politicians may feel there’s scope for the country as a whole to share in this growth which has been largely dependent on London’s attractiveness as a financial centre.
But would the UK remain so attractive if new taxes on wealth such as a mansion tax are imposed? Is it more likely we see high net worth individuals relocating elsewhere taking...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
There are better alternatives than a mansion tax for politicians to find revenues in the short to medium term, Alex Henderson writes.
There has been much noise in recent weeks about a possible mansion tax on properties worth over £2m.
It’s easy to see why governments might eye up the UK’s property as a potential source of revenue. Home owners in prime central London in particular have benefited from continued rises in property prices. Politicians may feel there’s scope for the country as a whole to share in this growth which has been largely dependent on London’s attractiveness as a financial centre.
But would the UK remain so attractive if new taxes on wealth such as a mansion tax are imposed? Is it more likely we see high net worth individuals relocating elsewhere taking...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: