To ask the Chancellor of the Exchequer, whether build-to-rent developments will be exempt from the Residential Property Develop Tax in (a) their entirety and (b) perpetuity.
23 November 2021
The Residential Property Developer Tax will apply to companies that make trading profits from residential property development activities and are part of a group that is generating relevant profits in excess of £25 million.
This means the tax will not apply to companies that construct properties to hold as investments.
It will, however, apply to companies that make trading profits from selling residential property, including where the purchaser is a member of the same group, or is acquiring the property for investment purposes.
As with all other taxes, the Government will keep this under review.