The Treasury is considering plans to raise money from a tax on the sale of homes worth more than £500,000, according to reports.Government officials are looking at a potential national property tax, which would replace stamp duty on owner-occupied homes, The Guardian reported.No final decision has been made, but it is thought this national tax could help build a model for local levies to replace council tax in the medium term.

The Treasury is considering plans to raise money from a tax on the sale of homes worth more than £500,000, according to reports.Government officials are looking at a potential national property tax, which would replace stamp duty on owner-occupied homes, The Guardian reported.No final decision has been made, but it is thought this national tax could help build a model for local levies to replace council tax in the medium term.