Reeves’s ‘Mansion Tax’ is due to revalue properties in council tax bands F, G and H by 2028 and potentially impose an additional annual charge of one per cent of the amount over a £2 million threshold. This would be broadly in line with Ed Balls’ 2015 proposal to charge the same annual tax on properties over £3 million…
David Lammy refused to depart the Foreign Secretary’s residence at 1 Carlton Gardens after the reshuffle and the mansion “remains allocated to him as Deputy Prime Minister and Lord Chancellor.” It was valued at £20 million in 2001 when Labour was considering selling it – according to rises in London property prices it would now be valued at around £70 million – likely higher in 2028. A 1% annual tax would cost over £700,000 every year by then…
The government pays Council Tax on grace and favour residences when they are deemed a “second residence” which Labour says is “in line with long-standing precedent under successive governments.” At the time of the election Lammy was spotted at his longtime house on a street in north London and insisted he would not move into Carlton Gardens (“no, no, no“). Lammy would be wise to insist that Carlton Gardens is his second home and have the government cover the cost to the council of the boosted Council Tax…
Rayner declared the government-owned Admiralty House flat her second home when she was living there and had the council’s second homes premium paid for by the taxpayer. It is unclear if Reeves will charge a Mansion Tax on private second homes. The government will have to exempt its residences seeing as it is usually the occupier not the owner who pays property taxes. The ‘DPM’ should do the right thing and nominate to pay it anyway…
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