Cladding tax to cost Britain’s biggest housebuilders £205m a year

Housebuilding

The Government’s new cladding tax introduced in yesterday’s Budget could cost the nation’s biggest housebuilders £205m a year, according to Sirius Property Finance.

During yesterday’s Budget and Spending review, Chancellor Rishi Sunak confirmed a new Residential Property Developer Tax (RPD) will be introduced from April next year to ‘ensure that the largest developers make a fair contribution to help pay for building safety remediations’.

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