Lets Be Clear the Residential Property Developer Tax is the ‘Grenfill’ levy+ That Captures Nothing of Windfall Profits for Landowners on Planning Permission Being Granted

Just read the draft legislation

Section 3

RPD activities
(1) Activities are RPD activities if they are carried out by an RP developer—
(a) on, or in connection with, land in the United Kingdom in which the RP
developer has, or had, an interest (see section 4), and
(b) for the purposes of, or in connection with, the development of
residential property (see section 5).
(2) For the purposes of subsection (1)(b), activities that are carried out for the
purposes of, or in connection with, the development of residential property
include—
(a) dealing in residential property;
(b) designing it;
(c) seeking planning permission in relation to it;
(d) constructing or adapting it;
(e) marketing it;
(f) managing it;
(g) any activities ancillary to any of these other activities.

Section c Gladmens your share price will take a hit

Then section 8

8 Charge to tax
(1) A sum equal to [x%] of an RP developer’s RPD profits in relation to a
chargeable accounting period, so far as they exceed its allowance for the
period, is to be charged on the developer as if it were an amount of corporation
tax chargeable on the developer

So this is specifically designed to charge a differential corp tax on large residential developers land residential – A Grenfill Levy – as already proposed

If your a farmer who makes a bilion pound fortune on a new Garden Community you dont pay a penny more. Indeed its is especially badly designed as there is nothing to prevent the tax being passed on to land price as an increase in economic rent. I