Elizabeth Small writes for Taxation on Residential Property Developer Tax
Tax Partner, Elizabeth Small, has authored an article for Taxation entitled 'Learning from the past'.
The Grenfell Tower tragedy led the government to announce a £3.5 billion fund to fix dangerous cladding on high-rise buildings and loans to leaseholders in lower-rise buildings.
Elizabeth explains that the government has proposed that the loan scheme be paid for by the residential property industry – partly through a new Residential Property Development Tax (RPDT).
In her article, Elizabeth answers key questions for developers following the announcement, including:
- Who will pay RPDT?
- What is considered 'residential'?
- What is profit?
- How will RPDT work in practice?