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Red Book valuations for Mansion Tax

Journalist: Madeleine Ross, Daily Telegraph

ended 12. January 2026

Hi, 

We're looking into Red Book valuations ahead of the implementation of mansion tax. I would like to speak to surveyors about how much they would likely charge to value homes worth more than £2m. 

The VOA have not yet ruled out using Red Book valuations for mansion tax purposes - what would this mean in practice, and how would it affect surveyors/homeowners? 

Thanks!

2 responses from the Newspage community

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Editor
Louis Mason
Content and Communications Director at Oportfolio Mortgages
In my view, using Red Book valuations for homes worth over £2m would add significant cost and friction to the market. These valuations are far more involved than standard mortgage checks, with fees often running into the low thousands due to the level of inspection, judgement and professional risk involved.

If the VOA were to rely on Red Book valuations for mansion tax purposes, I think it would place unnecessary pressure on both surveyors and homeowners. Red Book valuations are a snapshot in time and, in prime markets where sales evidence is thin, they can be highly subjective. That creates a real risk of disputes, appeals and inconsistent outcomes.

While Red Book valuations are robust when used appropriately, using them as the basis for a recurring property tax feels heavy-handed unless there is very clear guidance and a straightforward appeals process in place.
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Kundan Bhaduri
Entrepreneur, Investor and Landlord at The Kushman Group
This is now starting to really irk me. The cost of a Residential Property Red Book Valuation for anything over £2M would typically range from somewhere in the region of £2,000-£3,000 or more, depending on the complexity of the property and amount of work involved. Some would charge more, while others might be slightly less, but that gives you a ballpark figure.

The problem I have here is, WHO is expected to pay for that valuation? Surely the VOA is not going to write to me suggesting my property is suspiciously more expensive than £2M, and therefore I should be forced to carry out a Red Book Valuation. That would be foolhardy.

That then leaves the onus on the government, and the VOA in particular to arrange a Red Book valuation for my property, does it not? And then what happens if the home owner don't allow access to the property? A Red Book Valuation is not some drive-by valuation method. The surveyor will need to inspect the property, measure it and then do a comparables study.