Rachel Reeves to unveil next steps for ring-fencing reform at Mansion House Banking Rachel Reeves will outline the next steps of her ring-fencing reforms at Mansion House on Tuesday, City AM can reveal, in what is expected to be one of her last acts in the Treasury. The Chancellor will launch a consultation to seek industry input on the implementation of a package of reforms announced in May, including the [...]
London, Manchester and Edinburgh to bear the brunt of mansion tax Property A mansion tax in next week’s Budget could stifle property markets and disproportionately harm homeowners in London, Manchester and Edinburgh, tax experts have warned. Rachel Reeves is reportedly planning a mansion tax raid on high-value properties, as she takes a “smorgasbord” approach to the Budget after last week’s dramatic income tax U-turn. The Chancellor has [...]
Access Bank chief executive snaps up £15m Hampstead mansion Property The boss of Nigeria’s biggest bank has snapped up a £15m mansion in one of London’s most prestigious postcodes, City AM can reveal. Roosevelt Ogbonna, who has been the chief executive of Lagos-based Access Bank since May 2022, has acquired a luxury pad on The Bishops Avenue in Hampstead. The transaction for the property was [...]
Stamp duty overhaul could save prime London buyers £500k September 1, 2025 Buyers of prime London mansions could see huge benefits from a move to an annual property tax, according to new data. Chancellor Rachel Reeves is reportedly considering replacing stamp duty with a new national property tax on homes, as well as replacing council tax with an annual property tax. Stamp duty, which is paid in bands tied [...]
Russian billionaires out, US billionaires in: Mapping London’s super-prime property market May 17, 2024 Filings have shown a Kazakh billionaire has sold his Mayfair mansion for £35m. What does it say about London's super-prime property market?
Kazakh billionaire offloads Mayfair property for £35m May 9, 2024 A Kazakh oligarch worth an estimated £5bn has sold his London mansion for just shy of £35m in one of the largest deals this year.