3 ways your property could be taxed as a homeowner

The UK property market has been a source of frustration, and the Labour government has identified the sector as a major barrier to economic growth. One of the areas that may be reviewed is how property is taxed.

Indeed, the Institute for Fiscal Studies suggested tax is damaging the housing market in a December 2024 podcast.

For aspiring homeowners, soaring property prices mean many are struggling to save the deposit they need to secure a mortgage and pass affordability checks. In addition, taxes could mean existing homeowners who want to move up the property ladder or downsize decide against it because of the bill they would face. In turn, this means there are fewer properties suitable for first-time buyers