Stamp Duty – No Surprises Here
Despite all the chatter, Stamp Duty thresholds haven’t changed. Propertymark is still pushing for updates to make moving home easier, but for now, it’s business as usual.
A New ‘Mansion Tax’
From April 2028, homes worth over £2 million will face an extra annual charge – between £2,500 and £7,500, depending on the property’s value. This mainly affects high-end homes, but it’s a sign of where policy is heading.
Landlords – Brace for Higher Taxes
Starting April 2027, property income tax rates are going up:
- Basic rate: 22%
- Higher rate: 42%
- Additional rate: 47%
This adds to the pressure landlords have been feeling for years. Propertymark warns this could mean fewer rental properties and higher rents.
Holiday Lets and Short Stays
Regional mayors will soon have the power to introduce an overnight visitor levy – a small tax on overnight stays. If you run holiday lets, keep an eye on this.
What Does This Mean for Buyers and Sellers?
House prices are expected to rise steadily – about 2.5% a year from 2026 onwards. But the buying process still needs fixing. Propertymark wants reforms to speed things up and reduce fall-throughs. We couldn’t agree more!
Our Take at Hodsons
This Budget is all about ongoing property taxes rather than big changes to buying and selling. If you’re planning a move or thinking about investing, now’s the time to review your plans.
Need advice? We’re here to help. Get in touch with Hodsons today for expert guidance.
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