Super-rich hit by property taxes on £2m homes

AP

To some extent the Liberal Democrats have had their way with their "mansion tax". George Osborne has slapped new punitive taxes on wealthy homebuyers, to clamp down on what he called "morally repugnant" tax avoidance.

The chancellor raised stamp duty on homes worth £2 million or more to 7% from 5%, as expected - but a new 15% charge on those who buy such properties through companies came as a surprise. "I regard tax evasion and – indeed – aggressive tax avoidance – as morally repugnant, he said.