This week Westminster council announced plans to introduce a voluntary mansion tax on properties worth more than £10 million, while the Welsh Assembly said it was going to abolish stamp duty tax on homes worth less than £150,000, but raise it for more expensive properties.
Nick Whitten, the director of UK research at JLL, a property consultant, says: “There are similarities between the Welsh and Westminster decisions — both are examples of local tax policy aimed at creating a more equitable distribution of wealth.”
Here we take a look at the implications for London, Wales and beyond.
What are the stamp duty changes?
The Welsh Assembly will replace Stamp Duty Land Tax with its own Land Transaction Tax from April 1. This will increase the
