{"id":230019,"date":"2025-10-28T11:57:11","date_gmt":"2025-10-28T11:57:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/230019\/"},"modified":"2025-10-28T11:57:11","modified_gmt":"2025-10-28T11:57:11","slug":"state-pensioners-could-be-forced-to-sell-homes-over-new-hmrc-letters-demanding-10000","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/230019\/","title":{"rendered":"State pensioners could be forced to &#8216;sell homes&#8217; over new HMRC letters demanding \u00a310,000"},"content":{"rendered":"<p>Planned mansion tax could force thousands of asset-rich, cash-poor pensioners to sell up, it has been warned, ahead of the Autumn Budget.<img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/10\/0_pensioners1.jpg\" alt=\"State pensioners could be forced to 'sell homes' over new HMRC letters demanding \u00a310,000\" loading=\"eager\"  \/>State pensioners could be forced to &#8216;sell homes&#8217; over new HMRC letters demanding \u00a310,000<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">A new tax could force thousands of pensioners to sell up. The Labour Party&#8217;s planned mansion tax could force thousands of asset-rich, cash-poor pensioners to sell up, it has been warned, ahead of the Autumn Budget.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\"><a class=\"TextLink_text-link__dBSS0 TextLink_enabled__dJF3l\" href=\"https:\/\/www.birminghammail.co.uk\/all-about\/labour-party\" target=\"\" aria-label=\"\" tabindex=\"0\" rel=\"nofollow noopener\">Labour Party<\/a> Chancellor Rachel Reeves is considering hitting homeowners in properties worth more than \u00a32m with a one per cent annual levy in the Budget, which she will deliver on NOvember 26.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">Property experts warned that retirees could be forced to downsize to avoid the extra tax \u2013 which would be as much as \u00a310,000 a year for those in \u00a33m properties.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\"><a class=\"TextLink_text-link__dBSS0 TextLink_enabled__dJF3l\" href=\"https:\/\/www.birminghammail.co.uk\/news\/cost-of-living\/households-england-waking-up-letters-32755301\" target=\"\" aria-label=\"\" tabindex=\"0\" rel=\"nofollow noopener\">READ MORE Households in England waking up to letters about &#8216;one-off&#8217; free \u00a3100 payment<\/a><\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">Tom Bill, at estate agency Knight Frank, warned \u201ccash poor\u201d pensioners were particularly at risk of getting caught up in Labour\u2019s wealth raid.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">He said: \u201cIt doesn\u2019t follow that if you happen to live in a large house, you have the cash to pay this levy \u2013 older people may have been in the house for decades and it has appreciated.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">\u201cIf a mansion tax were introduced, you would see some older homeowners forced to downsize, whether they were ready or willing to move out of their neighbourhood or not.\u201d<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">Sarah Coles, of wealth manager Hargreaves Lansdown, said in a warning ahead of the address from Ms Reeves that discussions about a mansion tax could be \u201cdistressing\u201d for retired homeowners.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">She said: \u201cPeople\u2019s homes are the place they\u2019re safe. It can be incredibly emotionally difficult for people in their 70s and 80s to say \u2018you need to move house\u2019. Even talking about it is really distressing.\u201d<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">Mervyn King, the former Bank of England governor, criticised the policy on Monday, saying that \u201cadding another wealth tax\u201d risked exacerbating Britain\u2019s excessively complex tax system.<\/p>\n<p class=\"Paragraph_paragraph-text__PVKlh \" data-tmdatatrack=\"content-unit\" data-tmdatatrack-type=\"paragraph\" publication=\"birminghammail\">A Treasury spokesman said: \u201cThe Chancellor makes tax policy decisions at fiscal events. We do not comment on speculation around future changes to tax policy\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"Planned mansion tax could force thousands of asset-rich, cash-poor pensioners to sell up, it has been warned, ahead&hellip;\n","protected":false},"author":2,"featured_media":230020,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,2215,4176,4174,4175,56,54,55],"class_list":{"0":"post-230019","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dwp","10":"tag-finance","11":"tag-personal-finance","12":"tag-personalfinance","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/230019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=230019"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/230019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/230020"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=230019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=230019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=230019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}