Overview

• The proposal under examination would charge sellers, not buyers, a proportional levy on homes above about £500,000, with rates set by government.
• Reporting says stamp duty on second homes would be unchanged at this stage, and any move would likely be unveiled at a Budget if ministers proceed.
• Treasury work also considers a later local variant that could reform or replace council tax to strengthen council finances over time.
• The plan is framed as capturing value from long-term house price growth and raising revenue without increasing income tax rates for working people, according to an official Treasury statement.
• Property market specialists warn any seller-based levy would fall unevenly on London and the South East and could weigh on downsizers, though these impacts remain subject to the final design.