Finance

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

By 2021-10-28T10:21:00

Housebuilding

Source: Shutterstock/wolfness72

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’.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue