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42365
star this property registered interest false more like this
star this property date less than 2014-03-11more like thismore than 2014-03-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name
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star this property house id 1 more like this
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25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what estimate his Department made before the 2012 Budget of the number of properties valued at more than (a) £2 million and (b) £5 million. more like this
star this property tabling member constituency Dover more like this
star this property tabling member printed
Charlie Elphicke more like this
star this property uin 191427 remove filter
star this property answer
answer
star this property is ministerial correction false remove filter
star this property date of answer remove filter
star this property answer text <p>The number of residential properties in the UK valued at more than £2 million was estimated before Budget 2012 to be around 55,000.</p><p> </p><p>Before Budget 2012, an assessment of the average annual payment required from each property above £2 million in order to raise a net sum of £2 billion per annum was not made.</p><p> </p><p>On 1 July 2013, during Report stage of the Finance Bill, I referred to “a simple calculation arrived at by dividing £2 billion by 55,000 (an internal HMRC estimate of the number of properties valued at over £2 million) to give a ‘mean' average of £36,000.”</p><p> </p><p>A so-called mansion tax would depress stamp duty land tax and inheritance tax yields. The exact impact would be dependent on the rates and bands chosen.</p><p> </p> more like this
star this property answering member constituency South West Hertfordshire more like this
star this property answering member printed Mr David Gauke more like this
star this property grouped question UIN
191429 more like this
191430 more like this
star this property question first answered
less than 2014-05-13T12:00:00.00Zmore like thismore than 2014-05-13T12:00:00.00Z
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1529
unstar this property label Biography information for Mr David Gauke more like this
star this property tabling member
3971
unstar this property label Biography information for Charlie Elphicke more like this