Parliament’s New Plan to Tax Your £1M+ Home – What Every UK Homeowner Must Know

Описание: If you own a home worth £1 million or more, this could directly impact you.

Behind closed doors in Westminster, serious discussions are taking place about overhauling the UK’s outdated council tax system — potentially replacing it with a proportional property tax based on current market value. With council tax still tied to 1991 valuations, critics argue high-value homes are undertaxed relative to their true worth.

Think tanks like the Resolution Foundation have proposed a system where homeowners could pay around 0.5% of their property’s value annually. That means:

• £5,000 per year on a £1M home
• £10,000 per year on a £2M home

Supporters say it tackles inequality and raises billions for public services. Critics warn it could hit pensioners who are asset-rich but cash-poor, distort the housing market, and potentially push prices down at the top end.

With mounting fiscal pressure, rising public debt, and growing generational divides in homeownership, property wealth is no longer politically untouchable.

In this video, we break down:

Why million-pound homes are being targeted

How a proportional property tax would work

Who would pay more — and how much

The risks for retirees and long-term owners

Potential impacts on London and the South East

Whether this could spread beyond £1M homes

If you care about UK property, taxation, and protecting your wealth, this is essential viewing.

Stay informed. Policy decisions made today could reshape homeownership for decades.#UKProperty #PropertyTax #MillionPoundHomes