UK Wealth Tax to Hit as Many as 200,000 Homes, Official Says (2)

As many as 200,000 homes face being hit by the Labour government’s tax targeting properties worth more than £2 million ($2.7 million), according to a UK official.

Jonathan Russell, chief executive officer of the government body responsible for valuing homes for the “high value council tax surcharge,” said most of the residences affected are in London, the South East and the East of England.

Speaking at a Treasury Committee hearing in Parliament on Tuesday, Russell said the Valuation Office Agency will likely look at homes worth £1.5 million upwards to make sure it is not missing any that should fall ...