Developers with profit over £25m to be hit by £2bn cladding tax

By Jordan Marshall2021-04-30T05:00:00

Consultation on Treasury proposals to run until July

The Treasury has outlined the first details of its plan for a £2bn developer tax designed to raise funds to pay for the replacement of defective cladding on high rise properties.

It has issued a consultation, which runs until 22 July, on the design of the tax, which was first announced in February as part of a package of measures designed to help leaseholders with the cost of fire safety improvements to towers with defective cladding.

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