BPF publishes blog post on Building Safety Levy
The British Property Federation (BPF) has published a blog post as part of its Spotlight Series, providing insights from its Director of Policy, Ian Fletcher, on the Building Safety Levy (BSL). The blog explains what the BSL is, when it will take effect, specific exemptions, how the government plans to use the money raised, and the BPF's view on the BSL. The BSL, set to take effect in autumn 2025, is a charge that residential developers will pay when seeking building approval, with the government aiming to raise £3bn over ten or more years. The blog outlines certain exemptions, such as affordable housing and care homes, among others, and notes that a substantial reduction is expected for developments on previously developed land. It explains that the BSL is part of the government’s plan to recover costs allocated to the Building Safety Funds. The BPF advocated for the BSL to be based on floorspace and secured the reduced rate for previously developed land, but expressed disappointment that Purpose-Built Student Accommodation, Build-to-Rent, and communal spaces were not exempted.
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