Growth Plan 2022 – tax implications for real estate

Friday’s “mini-Budget”, referred to formally by the Government as “The Growth Plan 2022”, was anything but mini. Packed with tax cuts and simplifying measures, there was plenty to interest the real estate world. We highlight the key tax points of interest below (over and above the announcement that corporation tax will remain at 19%, and … Read more

Only a fool would forget … RPDT to apply from 1 April 2022      

As per our previous blog, a reminder that the residential property developer tax (RPDT) will be introduced next week from 1 April 2022 and will be applied to the profits that certain companies and corporate groups derive from UK residential property development. The stated aim is to ensure that the largest residential developers make a … Read more

New Residential Property Developer Tax (RPDT) – technical consultation

Update 27 October 2021 – At the Autumn Budget and Spending Review 2021, the Chancellor of the Exchequer confirmed that the RPDT will be charged at 4% on profits exceeding an annual allowance of £25 million. For more see our Autumn Budget blog post here. Following a consultation held earlier this year on the proposed … Read more

Consultation on proposed Building Safety (Gateway 2) Levy

In July, we wrote about the coming into force on 1 August 2021 of Planning Gateway One, the first of three new stop/go “Gateways” within the new building safety regime. At that point we awaited details of the proposed “Gateway Two Levy”, the second of the two means by which the government is seeking contributions … Read more

Upcoming building safety deadlines – RPDT consultation and Planning Gateway One

Back in April, we wrote about a consultation on a new proposed tax on residential property developers, the Residential Property Developer Tax (RPDT). This consultation closes on 22 July 2021, so there is still time to respond. Developers of certain types of high-rise residential buildings (including educational accommodation) also need to be aware of the … Read more

Repurposing real estate assets – Five things to think about

Repurposing real estate assets, in particular retail assets, is expected to be a key trend in the coming months and years. In this article we look at five of the key tax considerations to think about when considering repurposing buildings. 1. What rate of SDLT will you pay on acquisition? If you need to acquire … Read more

Real Estate. Reconsidered

Yesterday the HSF Real Estate team launched Real Estate. Reconsidered, a collection of our thoughts on some of the key issues that are impacting the real estate sector and our opinions on what the future may hold for the real estate market and its legal landscape. To read Real Estate. Reconsidered click here. Please contact us … Read more