Tax expert reveals key reasons why Rachel Reeves’ mansion tax won’t work
‘I’m a tax expert and this is why Rachel Reeves’s mansion tax won’t work’
- Leading tax expert Dan Neidle has warned Rachel Reeves against her proposed mansion tax, raising serious questions about its fairness and implementation.
- Neidle argues that the plan to levy an average charge of £4,500 on 100,000 high-value properties would rely on significantly outdated 1991 valuations.
- Reeves reportedly intends to revalue council tax bands F, G, and H to help address a £20bn spending deficit, amidst downgraded economic growth forecasts.
- Neidle highlighted that council tax bands have not been revalued in 34 years, leading to considerable regional disparities and unfairness across the country.
- He suggested a 1% tax on properties valued at £2 million or more as an alternative, but cautioned that the final outcome might be an unfair additional council tax on existing bands.