The consultation for the new residential property developer tax launched on 29 April. Lisa Bevan (Taylor Wessing) summarises the proposals and considers the questions that remain.
In February this year the government made a commitment to fund the cost of replacing unsafe cladding on all high-rise residential buildings in England. The introduction of a residential property developer tax (RPDT) was announced as being one of the key components of this plan although the specifics of what this new tax might look like were lacking at the time. A consultation document was produced at the end of April setting out the proposed design implementation and administration of the new tax and inviting feedback from stakeholders on the proposals.
The government describes the imposition of this new tax as ‘industry paying its fair share’ although it acknowledges that a number of the developers who will be affected by the...
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The consultation for the new residential property developer tax launched on 29 April. Lisa Bevan (Taylor Wessing) summarises the proposals and considers the questions that remain.
In February this year the government made a commitment to fund the cost of replacing unsafe cladding on all high-rise residential buildings in England. The introduction of a residential property developer tax (RPDT) was announced as being one of the key components of this plan although the specifics of what this new tax might look like were lacking at the time. A consultation document was produced at the end of April setting out the proposed design implementation and administration of the new tax and inviting feedback from stakeholders on the proposals.
The government describes the imposition of this new tax as ‘industry paying its fair share’ although it acknowledges that a number of the developers who will be affected by the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
