Residential Property Developer Tax – Crowe UK
21st May 2021
A Summary of the Government Consultation
The government has set out a five-step plan to tackle the use of unsafe cladding. One of the points raised was the proposal of two new taxes in the form of a new Gateway 2 levy applicable when residential property developers seek permission to develop high-rise buildings in England, as well as a new tax for residential property development companies.
The consultation document issued is focused on the introduction of the RPDT to apply to the largest residential developers and the government is currently consulting on the design of that tax proposed to apply from April 2022. The consultation runs until 22 July 2021.
We are expecting a separate consultation from the government with regards to the design of the Gateway 2 levy in due course.