PBR 2007: Ripe for development – property taxes and allowances. By Nichola Ross Martin

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.

Continued...

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Comments

Yes!

Anonymous | | Permalink

Don't bother deleting your post. It appears to be the case. I love the way that spell checkers are so user friendly. Thank you for putting up with my spelling difficulties, but I am the sad failure of an educational experiment bizarrely called the "ita" system...
I'm a bit tired too!

Divided by common language ...

mikewhit | | Permalink

"Rumors" ? - are you using a US spelling checker, Nichola ?!
[I will delete this post later !]

Yes, my brother also suffered the dreaded Initial Teaching Alphabet ... :(

PGS dropped

Anonymous | | Permalink

Forgive my ignorance - but where in the plethora of documents does it say that the PGS is being dropped? I can't find it anywhere???

How many weeks to Christmas?

AnonymousUser | | Permalink

I thought someone else would have already remarked on this particular typo. See below:

AccountingWEB 10th November 2007
Categories: Budget News, Tax Features, Tax - Nicki Ross Martin
Times read: 1143

Rob, wrong link!

Anonymous | | Permalink

You have hooked up to Budget 2007, not Pre-budget 2007!

This is the Pre-budget at a glance guide

Your link was in the depths of the site as it was back in March, and quite right too, there was no mention of it then, as it was going through consultation I believe.

Curiouser and Curiouser

Anonymous | | Permalink

Thanks Nichola - I obviously need to read more carefully! However, in my defense, I was directed to that page from the PBR link on the Tax Zone page.

PN1 - as follows:

Anonymous | | Permalink

Planning Charge

The Government has consulted extensively about the best way to ensure that local communities receive more of the benefits from planning gain, to invest in necessary infrastructure and transport. Legislation in the forthcoming Planning Reform Bill will empower Local Planning Authorities in England to apply new planning charges to new development alongside negotiated contributions for site-specific matters. The charges will be used to finance the infrastructure proposed by the development plan for the area, including regional and sub-regional infrastructure. The Housing Minister will publish further details in a statement today. Legislation implementing Planning-gain Supplement, which was a new levy proposed by Kate Barker's review of Housing Supply in 2004 and the subject of extensive consultation, will therefore not be introduced in the next Parliamentary session.

http://www.hm-treasury.gov.uk/pbr_csr/press/pbr_csr07_press01.cfm

If you go to HMRC's supplimentary notes you can find the responses to the PGS consultation too.

But...

Anonymous | | Permalink

Thanks Nichola.

Buried deep in the middle of something else - as usual.

That doesn't explain why A-Web's PBR summary states:

"Planning taxes and reliefs

No announcements made in connection with the planning gain supplement"

http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=166325&d=1025&h=1019&f=1026