Residential Property Developer Tax

START:
November 16, 2021
DURATION:
10:00-13:00

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    Training Terms & Conditions:

    Bookings and payment
    All bookings are provisional until they have been confirmed in writing by ourselves. Confirmation will be dispatched within 7 days of the receipt of a completed booking form.   Authorities booking 3 or more places will be entitled to a 10% discount.

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    Invoices must be paid in full by no later than:

    28 days following their date of issue.

    Cancellations – Residential Course

    More than 21 days : no payment due

    21-8 days : 50% of course fee

    7 days or less : full fee

    Substitutions are permitted at any time

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    More than 15 working days : no payment due

    14-7 working days : £100.00 cancellation charge

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    Training materials provided by us during the course are for the sole benefit of the course participant. They must not be photocopied, scanned, faxed or otherwise distributed without our prior written permission. All intellectual rights remain the property of LAVAT Consulting Limited.

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    In the unlikely event of a course not taking place as scheduled, and for whatever reason, the financial liability of LAVAT Consulting Limited  to each participant shall be limited to the value of monies paid by that participant for attendance on the course.

    PSTAX Seminars
    Residential Property Developer Tax

    Local authority housing companies and residential housing developers (‘LAHCs’) face a new tax from April 2022, when the Residential Property Developer Tax (‘RPDT’) is introduced. The draft legislation that makes it clear that RPDT could have a material effect on some local authority housing developments.

    We will be hosting an RPDT seminar with Azets on 16 November 2021. The seminar will explore the new tax and how it will affect LAHCs and local authority housing developments.

    Background
    RPDT will apply from April 2022 on the profits of residential property developers. It is designed to contribute to the government’s costs of dealing with unsafe cladding on leased residential buildings following the Grenfell disaster.

    The tax will apply to the profits from the development of residential properties, with some exceptions, including residential care homes, student accommodation, temporary sheltered accommodation, and hotels. The government plans to raise at least £2 billion from the tax over the next ten years.

    RPDT will be charged at 4% on profits exceeding the developer’s “allowance”, which was confirmed as £25m in the Chancellor’s Budget on 27 October. There are specific provisions to tax joint ventures and groups. Although local authorities themselves will be exempt, LAHCs are within the scope of the tax and could find themselves liable for the tax, especially if they are in a joint venture or group structure.

    RPDT Seminar
    RPDT might be a costly new liability for housing developments, and LAHCs must be fully aware of how they will be affected. Our online seminar on 16 November will explore in detail the effect the new tax might have on LAHCs, taking into account the legal and tax structures and the various exemptions.

    It will be a jointly presented seminar with Azets, who deliver accounting, tax, audit, business, and advisory services in the UK and internationally. PSTAX and Azets have been working together for several years providing corporation tax support to local authority trading and housing companies.

    The cost of a place is £180 plus VAT per delegate. Organisations booking three or more places will receive a 10% discount.

    To book your place, please email bookings@pstax.co.uk. Places will be available on a first-come, first-served basis.