Why a new Rachel Reeves property tax would hit London hardest

Rachel Reeves needs to plug a more than £40bn black hole in public finances, and she’s promised not to raise headline tax rates on working people. So, a property tax is on the table, and out of everywhere in the UK, it looks like it would hit London hardest. The Treasury is reportedly looking into a range of options for how to tax property, and this could be a major part of the Autumn Budget. There could be a national property tax based on the value of a home, which would replace stamp duty. Another option is a ‘mansion tax’, which would involve a capital gains tax for the sale of homes over £1.5m. Click the related video link for more on this story ▶️ #uk #london #news #politics #business #finance #personalfinance #money #tax #capitalgains #capitalgainstax #mansiontax #property #realestate #housing #labourparty #rachelreeves #autumnbudget #budget2025 #hmrc