The Centre for Policy Studies’ recent publication Taxing Mansions: the taxation of high value residential property, by Lucian Cook, is discussed in an article by Christopher Hope, Daily Telegraph.
“The report from the Centre for Policy Studies came amid claims that the Liberal Democrats were ready to scrap their opposition to scrapping the top 50p tax rate in return for the tax on homes worth over £2million.
One senior Lib Dem minister said that Conservatives and Lib Dems were not “intellectually wedded” to the 50p rate.
Under Lib Dem plans being considered by Chancellor George Osbrone the Government would bring in some form of new tax on properties worth more than £2million.
However study published today suggests the measure would “unfairly target the income poor, equity rich” who had lived in their homes for decades. It would also be “both difficult and expensive to value all relevant properties”.”
Click here to view the full article from the Telegraph
Date Added: Monday 5th March 2012