Responding to the consultation on the draft Finance Bill clauses which will introduce the residential property developer tax (RPDT) charge for accounting periods ending on or after 1 April 2022, the CIOT makes a number of recommendations, including:
Updated draft clauses on the RDPT published on 8 October confirm that build to rent activity and affordable housing provided by non-profit companies will be excluded from the scope of RPDT. The final design of RPDT, including the tax rate and the level of allowance below which profits fall out of scope, is expected to be set out in the Autumn Budget on 27 October 2021.
Responding to the consultation on the draft Finance Bill clauses which will introduce the residential property developer tax (RPDT) charge for accounting periods ending on or after 1 April 2022, the CIOT makes a number of recommendations, including:
Updated draft clauses on the RDPT published on 8 October confirm that build to rent activity and affordable housing provided by non-profit companies will be excluded from the scope of RPDT. The final design of RPDT, including the tax rate and the level of allowance below which profits fall out of scope, is expected to be set out in the Autumn Budget on 27 October 2021.