Key facts
- HMRC agents will visit properties to assess their value for a new 'mansion tax'.
- The tax targets homes valued over £2 million, with additional surcharges for properties exceeding £5 million.
- Features such as ponies, swimming pools, and tennis courts will be considered in property valuations.
- The new tax is expected to generate an additional £400 million annually for the Treasury by 2030.
- This measure is part of a broader reform of the council tax system.
HMRC agents are preparing to visit affluent properties to assess their value for a new 'mansion tax', a move critics have labelled 'Big Brother' tactics. The tax, announced by former Chancellor Rachel Reeves, will impose a surcharge on homes valued at over £2 million, with higher rates for properties exceeding £5 million. Agents will consider various property features, including architectural style, number of bedrooms, and amenities like swimming pools and tennis courts, to determine valuations. This initiative is part of a broader government effort to reform the council tax system. The opposition Conservatives have strongly criticized the plan, with shadow chancellor Sir Mel Stride calling it an 'invasion of privacy' and a 'tax on aspiration'. Conservative Party chairman Kevin Hollinrake described the plan as 'sinister'. The new tax is projected to increase Treasury receipts by £400 million annually by 2030 and is set to come into effect in April 2028. Council tax valuations are currently based on figures from 1992, and reforms have historically proven controversial.