Story thread · 2 reports / 2 sources

Homeowners to get six months to challenge UK's new £2 million mansion tax

thenationalnews.com · 3dShare

Homeowners facing the UK government’s new mansion tax will have approximately six months to appeal against the decision before it comes into effect, it has emerged. The methodology for deciding valuations is due to be announced before the end of this year. Owners will be told by next autumn whether their homes are deemed to be above the £2 million mark at which the charge is introduced. HM Revenue and Customs has then built in a period to allow for appeals before the system goes live in spring 2028. Owners who dispute the valuation of their home will be given time to check and challenge the charge, which was introduced by former chancellor Rachel Reeves in last year’s budget. Owners would be expected to pay £2,500 a year for properties worth £2 million to £2.5 million, and £3,500 for properties worth up to £3.5 million. Properties between £3.5 million and £5 million would incur a charge of £5,000 annually, while those worth more than £5 million would face a £7,500 levy. The surcharge,

First report: UK Taxman to Give Homeowners Six Months to Appeal Mansion Tax — bloomberg.com, 5d