HM Treasury (HMT) has released its response to its consultation 'Residential Property Developer Tax' (RPDT) which is to be introduced from April 2022. The tax is aimed at raising funds for building safety remediation works.

Following their Consultation on Residential Property Developer Tax and the subsequent publication of Draft Legislation for technical consultation, HMRC have released stakeholder responses and further Treasury comment.

The proposed tax included a 4% levy on the residential development profits of developers over a £25 million allowance.

Stakeholder responses and HMRC’s follow up comments include:

Following the consultation, the final legislation will be published in Finance Bill 2022.

Useful guides on this topic

Consultation on Residential Property Developer Tax
HM Treasury has published 'Residential Property Developer Tax (RPDT): Consultation on policy design', a new tax that forms part of its Building Safety Package ahead of its inclusion in the 2021-22 Finance Bill. This measure targets only the largest developers.

Residential Property Developer Tax draft legislation published
The government has published draft legislation for the Residential Property Developer Tax. The legislation will be open for technical consultation until 15 October 2021.

Corporation Tax instalment payments
When does Corporation Tax (CT) have to be paid by instalments? What are the rules and deadlines?

External Links

Residential Property Developer Tax: consultation

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