Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a740333

Budget 2014: 12 predictions

by Michelle McGagh on Mar 17, 2014 at 09:10

Mansion tax

Smith & Williamson’s Riches said the idea of an annual mansion tax on properties worth more than £2 million was ‘gathering steam’.

‘This would add much needed funds, although there is concern that a new tax on wealth, especially if it were introduced with little notice, would hit those with assets that have risen in value but who have low liquidity,’ she said.

She added that a wealth tax could be introduced via council tax reform. The current council tax bands have not been changed since they were introduced in 1993 and properties have grown significantly in value since them.

‘One possibility is therefore to amend those bands to provide a wider range of values at the top end,’ said Riches.

Sign in / register to view full article on one page

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet