Labour motion on the introduction of a mansion tax on properties valued over £2M has been defeated in Parliament this afternoon with 304 votes against and 241 in favour. This chapter however is far from closed as the Lib Dems will still be pushing for an annual levy on such properties. Any new measures are expected to be revealed in the Chancellor’s 2013/2014 budget scheduled for the 20th March. This is probably the last chance that the Chancellor has to introduce any new measures before the elections of 2015.
Real Estate Advisory
Mansion Tax Defeated in Parliament
10th March 2013
