Overview
- The surcharge, announced in the Autumn Budget 2025, starts in April 2028 with annual charges of £2,500 to £7,500 based on property value.
- Liability will fall on property owners rather than occupiers, with billing and appeal arrangements to be set through forthcoming legislation.
- Officials plan to fix a new valuation date via legislation and will focus checks on homes with indicative values roughly between £1.5 million and £5 million.
- The VOA estimates around 200,000 properties will be in scope, with concentrations in London, the south east and the east of England, and some areas having none.
- A public consultation in the coming months will cover reliefs, appeals and complex ownership issues, as the agency pledges transparency to limit disputes.