The UK rejects the proposal to lower the mansion tax threshold to £1.5 million.

The UK’s mansion tax on high-value properties will not be expanded to include homes worth £1.5 million, as Chancellor Healey has formally rejected proposals to lower the threshold for the mansion tax. Currently, the mansion tax in the UK applies to properties valued at £2 million or above. Previously, there were proposals to reduce the threshold to £1.5 million in order to broaden the tax base and increase fiscal revenue. However, the Chancellor’s clear position means this adjustment will not be implemented for now, and qualifying £1.5 million properties will not be subject to the mansion tax.