Helen Coward (Charles Russell Speechlys) considers the important aspects of the draft legislation for the new residential property developer tax.
The draft legislation for the new residential property developer tax (RPDT) has been released following an earlier consultation on key design elements for the tax which took place over the summer (see bit.ly/3uELP7A).
There were a few hot topics identified by stakeholders in discussions with officials such as how profits falling within the scope of the tax should be computed and the treatment of build to rent activities.
Ostensibly the tax is being implemented to pay for government contributions to defective cladding but given the limited involvement of many affected taxpayers (and the commitment of others to remedying defects) it appears to be more of a cash grab. There will no doubt be taxpayers who are disappointed with certain policy decisions while others...
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Helen Coward (Charles Russell Speechlys) considers the important aspects of the draft legislation for the new residential property developer tax.
The draft legislation for the new residential property developer tax (RPDT) has been released following an earlier consultation on key design elements for the tax which took place over the summer (see bit.ly/3uELP7A).
There were a few hot topics identified by stakeholders in discussions with officials such as how profits falling within the scope of the tax should be computed and the treatment of build to rent activities.
Ostensibly the tax is being implemented to pay for government contributions to defective cladding but given the limited involvement of many affected taxpayers (and the commitment of others to remedying defects) it appears to be more of a cash grab. There will no doubt be taxpayers who are disappointed with certain policy decisions while others...
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:
