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Residential Property Development Tax Update - What is residential property developer tax? The Residential Property Development Tax (RPDT) origins can be traced back to the horrific Grenfell Tower fire of 14 June 2017. Issues found with the cladding and the building led to a UK wide review, highlighting many more buildings with similar problems. Consequently, after protracted legal wrangling, the UK government eventually agreed to cover the cost of remediating cladding issues. Background to the RPDT Initially, the government set aside a £5 billion fund to pay for the cost of replacing cladding on the highest risk buildings. As part of further funding initiatives, the UK government introduced the RPDT in February 2021. After two consultation periods, ending on 15 October 2021, the details of the draft bill were announced with the budget on 27 October 2021. The RPDT will come into effect on 1 April 2022 with the intention of raising £2 billion over ten years. Wilkins Southworth property tax accountant practice based in Barnes, South West London. The practice has an international aspect that means we have built up a bank of experience in dealing with Double Taxation Treaties and liaising with tax offices around the world. Property Management Accounting and Tax Articles and Videos Chris Wilkins is often invited to write tax and accounting articles for magazines, journals and trade publications. https://www.wilkinssouthworth.co.uk/a... Visit this section for a selection of articles that have been published in recent years. For more information on the Bounce Back Loans Scheme or the accounting services we provide, please feel free to contact us by post, telephone, fax or e-mail using the details below. Wilkins Southworth Telephone: 020 8878 3949 E-mail: cw@wilkinssouthworth.co.uk *Property, Tax and Business articles* https://wilkinssouthworth.co.uk/artic... For more information please visit https://www.wilkinssouthworth.co.uk Wilkins Southworth 10-12 High Street, Barnes, London SW13 9LW #ResidentialPropertyDeveloperTax #PropertyTax #RPDT