Housing associations and their wholly owned subsidiaries are set to be made exempt from the developer cladding tax after lobbying efforts by the sector. Lawyers had warned that not-for-profit registered providers that own development companies could be liable for the Residential Property Development Tax (RPDT), due to take effect next April. But in an updated note on the legislation, the Treasury said that non-profit housing companies will be excluded. The note added: “Wholly-owned subsidiary companies of a non-profit housing company are also excluded from being treated as residential property developers for the purpose of the tax.” Read more on Inside Housing.

https://www.insidehousing.co.uk/news/news/housing-associations-to-escape-cladding-tax-72806