The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Friday, 13 December

Tax Trial: Land Value Tax for London?

A report released by London Assembly Member, Tom Copley identifies that a new Land Value Tax could encourage 'land bankers' and those holding underutilised sites to release them - particularly for housing.

Copley states that new construction land is vital for new development, particularly housing and London faces an acute shortage of developable areas.  His report ‘Tax Trial: Land Value Tax for London?’ identifies that a this new tax could provide the incentive to build over 200,000 new homes in the capital.

Copley believes Land Value Tax is unlike any of the property taxes currently in use in the UK.  It taxes land and not buildings. "Current tax and business rates are only imposed on occupied and developed land; which can discourage development," he argues.  "This means some sites in London are being under-utilised as car parks or plots with long-demolished buildings."

His report recommends that the next Mayor look at the issue to identify what further devolved powers might be needed to make a Land Value Tax a reality.

Picture: Will a Land Tax Get London Building even more? 

Article written by Robin Snow

Share



Related Articles

Sinking Feeling Over Leisure Facilities

Leisure centres could fall into a state of disrepair and even be forced to close without urgent new investment from government, councils have warned. The Local...

 Read Full Article
Piccadilly Lights - LandSec's London Landmark Re-lit

London’s iconic Piccadilly Lights were switched back to life on October 26 after a nine month period of renovation. A spectacular display of colours, which were...

 Read Full Article
Buildings Of The Future - Time To Rethink The Bottom Line

The availability of measurement models that accurately reflect return-on-investment is often the biggest hurdle in the design, construction and maintenance of Buildings...

 Read Full Article
Squaring It With Qube

MRI Software has acquired Qube Global Software, a UK based provider of property and facilities management Solutions. The acquisition, according to MRI, extends the...

 Read Full Article
Jurassic Parks at Tower Top - 14 Rescued by Helicopter

Merlin Entertainments, the biggest ride and attraction company in the UK and with sites across the world, have suffered another embarrassment as 14 people including a...

 Read Full Article
Up and Down and Side to Side - First Multi Lift Unveiled

More than 160 years after the invention of the conventional elevator, Thyssen Krupp has unveiled the first functional multi-directional lift at a 246 metre tall test...

 Read Full Article
NOW That's What I Call Remote Working

London City Airport is to become the first UK airport to install a digital air traffic control tower – operational in 2019. The digital solution is a multi-million...

 Read Full Article
Cosmo Guardians Take Vacant Options

As pressure on private rental accommodation in the UK’s major cities forces up costs, young people are finding it impossible to combine their career hopes with...

 Read Full Article
A City That Never Sleeps - Longer London Hours

For the period January to December 2016, the UK region with the highest average actual weekly hours worked (for all workers) was London at 33.7 hours, followed by...

 Read Full Article
Are You Experienced?

BT has launched its first 'Customer Experience Lab' (in Dundee) to test new ways of supporting its 1.1 million business customers across the UK. Designed to...

 Read Full Article