Planning Tax to be introduced (again!)
10-Oct-2005 | Real Estate
Although there have already been three attempts in the past 50 years to capitalise on development gain, all of which have been judged expensive and complex failures the Government is going ahead with proposals for a tax on landowners who obtain planning permission for development.
The "Planning gain Supplement" suggested by Kate Barker's Review of Housing supply would tax the gain in value that occurs when greenfield land is given planning permission for housing. The Government is now considering whether and how to apply the PGS more widely to all developments.
