This website uses cookies to improve user experience. By using our website, you consent to all cookies in accordance with our Cookie Policy. Read More.
The BPF has responded to DEFRA’s consultation setting out the government’s proposals on how biodiversity net gain will be implemented through the planning system.
The BPF’s comments on proposals for a Council Directive laying down rules to prevent the misuse of shell entities for tax purposes.
The BPF has responded to the Government consultation seeking views on a possible online sales tax, as a means of rebalancing the taxation of the retail sector between online and in-store retail.
The BPF response to the Government’s consultation on capital allowances reform, calling for radical reform and the introduction of a new tax credit system to incentivise investment in property decarbonisation and town centre regeneration.
A DLUHC consultation on radical reform of CPO compensation, which seeks to remove all or some of hope value from claimants where the Secretary of State makes a direction to that effect. Local authorities would apply for such a direction where they feel it would be in the public benefit. The BPF response generally opposes the Government’s proposals on various grounds.
The BPF response calls for changes to the rules governing investment by long-term life insurers that could unlock the institutional capital needed to drive levelling up and fund the decarbonisation of the built environment.
The BPF response calls for drops in rateable value to immediately result in lower rates bills and for centrally funded relief for those with big increases in rates bills.
We have expressed concern about the potential impact on investment as a result of changing the tax treatment of sovereign immune investors. Furthermore, these changes will result in significant complexity for existing investment structures where sovereigns are treated as “qualifying” (good) investors (including the REIT regime and Qualifying Asset Holding Company regime). The Government must act with care to ensure that existing investment structures and co-investors are not inadvertently penalised by these changes.
We and other property bodies from around the world wrote to the Organisation for Economic Co-Operation and Development (OECD) welcoming their decision to exclude REITs from new rules applying minimum rates of tax to large multinational companies on the basis that REITs are specifically designed to allow individuals to invest in property without being taxed twice. The letter also highlights the need for further guidance to make sure the OECD’s rules don’t clash with those of individual countries.
We submitted our response to the Government’s consultation on digitalising business rates. While we are supportive of Government’s efforts to streamline and modernise the business rates system we expressed some concern with the scope of the project. In particular, we don’t believe this new digital database will be the right way to address the challenges with reliefs. This can only be resolved through more frequent revaluations and a more sustainable tax burden. We are also concerned that there are a number of other areas of the business rates system which are in desperate need of digitalisation which are not covered by these proposals.
A DLUHC consultation on how rents are set in the social housing sector and suggesting a cap to reduce the existing policy of CPI+1%.
A DLUHC consultation on how the new building safety regime will work for new build work, including refurbishment.
