Nicola Westbrooke and Punit Nathwani explain why it is now easier and cheaper for property investment groups to access tax exemptions
The UK REIT regime is designed to allow property investment companies to achieve effective tax transparency in respect of their property income and gains. These are not subject to corporation tax in the company but the dividends are taxed on shareholders as if they were in receipt of rent.
Take-up of the regime which is elective has been patchy. To date there are 25 UK REITs with a market capitalisation of approximately £25bn. Given the fact that these are required to be listed vehicles and the economic environment has not been propitious for listing since the regime’s introduction on 1 January 2007 this is perhaps not entirely surprising. However the government has been convinced that the REIT regime has more to give to the...
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Nicola Westbrooke and Punit Nathwani explain why it is now easier and cheaper for property investment groups to access tax exemptions
The UK REIT regime is designed to allow property investment companies to achieve effective tax transparency in respect of their property income and gains. These are not subject to corporation tax in the company but the dividends are taxed on shareholders as if they were in receipt of rent.
Take-up of the regime which is elective has been patchy. To date there are 25 UK REITs with a market capitalisation of approximately £25bn. Given the fact that these are required to be listed vehicles and the economic environment has not been propitious for listing since the regime’s introduction on 1 January 2007 this is perhaps not entirely surprising. However the government has been convinced that the REIT regime has more to give to the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
