TAX NEWS: Industry brands Planning Gain Supplement complex and ineffective. By Nichola Ross Martin

A research paper commissioned by a consortium of property developers and published today has found, unsurprisingly, that the forthcoming Planning Gain Supplement (PGS) will be complicated and may fail to deliver the investment benefits intended.

The PGS, which is not expected to be implemented until 2008, is expected to be in the form of a self assessed flat levy payable on the uplift in land value on a non-domestic site once full planning permission has been granted.

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