Story perspectives

Mansion Tax to Cost £400m, Hit £230m Revenues

5/6/2026

Summary

Story summary

The upcoming mansion tax will drain nearly £400 million from public finances before any payments are collected.
Officials expect stamp duty and inheritance tax receipts to fall by £230 million over three years because property values near the £2 million threshold are under pressure.
The government will spend £150 million to identify and value homes in the tax’s scope, which agents say already influences buyer and seller behavior around the £2 million entry point.

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Story summary

The upcoming mansion tax will drain nearly £400 million from public finances before any payments are collected.
Officials expect stamp duty and inheritance tax receipts to fall by £230 million over three years because property values near the £2 million threshold are under pressure.
The government will spend £150 million to identify and value homes in the tax’s scope, which agents say already influences buyer and seller behavior around the £2 million entry point.