Tens of thousands of property millionaires living in “very expensive” homes could escape a mansion tax planned by Chancellor Rachel Reeves , new data shared with The i Paper shows.

Targeting only those in the three highest council tax bands would see some residents in homes worth £1.5m or more dodging the tax expected to be announced at the Budget .

Property and tax experts warned Reeves of a “serious backlash” if her new levy creates “bizarre unfairness” between people living in homes with the same value. New Feature

In Short

Quick Stories. Same trusted journalism.

Labour MPs are divided on a mansion tax. Some “red wall” MPs in the north of England are “encouraged” that the Government is willing to embark on property tax reform.

However, Labour MPs in London, worried it will

See Full Page