Ability to cater for Residential Property Developer Tax (RPDT) This is a new tax on profits earned by companies from the development for sale of residential property.
It was introduced by sections 32-52 FA22 and fully applies to accounting periods beginning on or after 1 April 2022. Profits for accounting periods straddling 1 April 2022 are time-apportioned.
RPDT is charged at 4%, which is in addition to standard Corporation Tax.
Steven Cartlidge
