Land tax warning

‘Private warnings to the government from major housebuilders concerned at the high rates of Community Infrastructure Levy (CIL) being set by London Boroughs, suggest that the land tax will destroy Mayor Boris Johnson’s plans to build 91,500 homes in the capital between 2014 and 2017.

One developer said: “The levels being set are outrageous. Some boroughs are effectively using CIL to bring development to a halt”. Savills has been appointed by the Home Builders Federation to challenge the level of the new tax nationwide.’

Source: Evening Standard

Myfanwy Neville

Partner: Property and Construction, Sustainability and ESG

T +44 (0)20 8922 9376
E Myfanwy.Neville@bkl.co.uk

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