30035_mansion-tax-trap-2014-Thu.jpg

11,462 homes in London facing the Mansion Tax

  • 23 Oct 2014

  • Share

the mansion tax trap - are you in?

Infographic oabout the 11,462 homes in London facing the Mansion Tax

Rising house prices in London over the past decade have turned a record number of homeowners in the capital into property millionaires. As our infographic shows, there are 11,462 homes in London worth more than andpound;2m. But instead of toasting their good fortune, Londons property multimillionaires face paying a mansion tax if Labour wins power after next years General Election.

Leader Ed Miliband announced the policy at his partys annual conference and in mid-October shadow chancellor Ed Balls revealed that middle-class families will be prevented from deferring the mansion tax _if they earn more than andpound;42,000.

Our infographic shows how many houses in each London borough will pay the mansion tax, which Labour says will raise andpound;1.2bn to fund extra NHS staff. While it should come as no surprise that Westminster and neighbouring Kensington and Chelsea top the list of boroughs with the highest number of andpound;2m-plus properties, it is interesting to note that Londons property boom means areas not normally associated with wealth, such as Croydon and Tower Hamlets, also have properties that pass the mansion tax threshold.

Even if your home isnt yet worth andpound;2m or more, according to the Land Registry, the figures on our infographic showing the percentage increase in property values in each London borough over the past decade will help you work out whether your house will hit the andpound;2m mark any time soon.

Leave a Reply

More articles

National Ventilation
Osmo

Osmo UK expands range of wood adhesives

Osmo UK, the eco-friendly wood and finishes specialist, has expanded its range of wood adhesives, as a new durable product developed for use in the home joins the range.

Posted in Articles, Building Industry News, Building Products & Structures, Innovations & New Products, Interiors, Paints, Coatings & Finishes, Posts, Timber Buildings and Timber Products, Wooden products

  • Share
Delta Membranes

Delta’s Directors delighted to attend construction dinner

Delta’s Directors, Christopher Burbridge, David Symes and Kevin Dodds, were delighted to attend The Worshipful Company of Constructors Installation Dinner on Wednesday 10 October.

Posted in Articles, Building Associations & Institutes, Building Industry Events, Building Industry News, Building Products & Structures, Damp & Waterproofing, Posts

  • Share
Crown Trade

Break the mould with Crown Trade's Clean Extreme

The mild, wet autumnal weather can provide ideal conditions for mould and mildew to thrive, but the outlook has gotten brighter, thanks to Crown Trade’s range of Clean Extreme Mould Inhibiting paints.

Posted in Articles, Building Industry News, Building Products & Structures, Damp & Waterproofing, Innovations & New Products, Paints, Coatings & Finishes, Posts

  • Share