Released 29 April 2021
HM Treasury (HMT) has launched a consultation on the policy design of a residential property developer tax on certain profits from residential development activity.
The new residential property developer tax forms part of the Government’s Building Safety Package, which is designed to end the use of unsafe cladding, provide reassurance to homeowners and support confidence in the housing market. The Government is consulting on the design of that tax ahead of its inclusion in the 2021–22 Finance Bill.
The consultation runs until 22 July 2021.
Further details, including a link to the consultation document, can be found at https://www.gov.uk/government/consultations/residential-property-developer-tax-consultation.
See also the HMT press release (29 April 2021): Call for views on new residential developer tax.