Planning-gain Supplement (PCS):
Rumours that this particularly unworkable proposed tax had been dropped by Gordon Brown have been doing the rounds for months, and so it was interesting to see what the new chancellor had in mind. Further to announcing that the PGS would be dropped a summary of responses to consultation on the proposal of Paying PGS and Valuing planning gain were published. The Treasury concludes that the new tax is unworkable, as well as being totally unpopular and possibly one of the most ambitiously complex ideas ever dreamt up.
Local Planning Taxes
Whilst developers and builders throughout the country will be rejoicing (they only have to worry about CIS penalties now), local authorities appear to be the main losers of the PGS U-turn. They have now been given t...