- in United Kingdom
- with readers working within the Transport industries
James's comments were published in IFA Magazine, 26 November 2025, and can be seen here.
James Vernor-Miles, head of our Residential Property department, notes that today's Autumn Budget has introduced significant property-related measures that advisers must now digest.
The headline announcement is the long-anticipated Mansion Tax, applying to homes valued above £2 million, alongside reforms aimed at reshaping property taxation. These changes follow weeks of speculation about stamp duty, council tax adjustments, and support for first-time buyers, with the leaked OBR report offering early insight into the proposals. James emphasises that understanding how these measures will impact homeowners, investors, and advisers is now critical.
From James' perspective, these reforms represent both challenges and opportunities. While the Mansion Tax will inevitably affect high-value properties particularly in London and the South East, he sees scope for advisers to provide strategic guidance on valuation, ownership structures, and succession planning. James warns that clients should act promptly to review their exposure and explore mitigation options, but also stresses that these changes could encourage more proactive wealth planning and portfolio diversification.
Industry reactions underline the complexity of the situation. Keri-ann Osfield, CFO at Multrees Investor Services, cautions that while the levy may generate short-term revenue, it risks damaging the UK's financial ecosystem by prompting wealthy clients to reconsider their UK presence. Rob Hillock of Broadstone predicts behavioural shifts such as "price bunching" below the tax threshold and increased downsizing activity, which could distort market dynamics and liquidity in prime locations. These factors highlight the need for advisers to monitor trends and adapt strategies accordingly.
James frames the Budget as a turning point for property wealth management. Advisers must move beyond reactive advice and adopt a strategic approach that anticipates clients' needs in a changing tax landscape. Whether through valuation exercises, restructuring, or long-term planning, informed guidance will be essential to help clients navigate uncertainty and seize opportunities in this new era of property taxation.
Read the full article on the IFA Magazine website [external link].
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