Government opens consultation on mansion tax for homes worth £2m and above

The government has opened a consultation on its mansion tax — the High Value Council Tax Surcharge — confirmed at the 2025 Autumn Budget and due from April 2028 on English homes worth £2m or more. Annual charges would run from £2,500 to £7,500 by value band, with revaluations every five years. For sellers of high-value homes, that prospect could pull downsizing decisions forward and soften top-end demand. It is still only a consultation, and the threshold sits far above the typical UK home.