Rachel Reeves and HMRC are set to launch an "attack" on downsizers in a move which could " decimate" the UK housing market. Labour Party Chancellor Ms Reeves has to find £50bn to plug the Government’s black hole.

And property has become a target in her Autumn Budget as a result. The Chancellor is reportedly considering imposing taxes on sellers of homes over £500,000.

Experts have warned that these tax changes would particularly hit downsizers up and down the country. This is because their homes have vastly grown in value over several decades.

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And many are already reluctant to move due to the tax hit. Geoff Wilford, of estate agency Wilfords London, said: “The idea of introducing a mansion tax

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