Wealthy to lose tax breaks on second homes | Politics | The Observer

Wealthy to lose tax breaks on second homes | Politics | The Observer

Tax breaks for second home owners are to be scrapped under proposals to raise more funds from the most wealthy.

Councils are now legally obliged to provide a council tax discount of 10% to 50% on owners' second properties. Ministers plan to end this benefit in a move that would affect nearly a quarter of a million people, forcing them each to pay hundreds of pounds more a year in council tax.

Councils will have the option to offer discounts to second home owners, but it is understood that local authorities across the political divide have been lobbying for the change and ministers believe it is unlikely many would forgo the chance of a new revenue stream.