Residential Property Developer Tax (RPDT)

What: As part of the government’s commitment to help fund cladding remediation works, they have proposed a new tax on residential property developers.

Our view: This new tax is disproportionately complex, in the context of the level of revenues it will raise. It will be particularly penal on investment asset classes, like BTR and PBSA, which will impact on development viability of new rental homes – we therefore call for a carve out for investment asset classes.