Kevin Ashman a tax partner at Lovells LLP and Suzanne Price an associate at Lovells LLP look at the conditions of the new property authorised investment funds regime
A new taxation regime for investors in property was introduced on 6 April allowing them to combine tax-efficient property investment with the flexibility of investment through an open-ended vehicle. The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 introduce the property authorised investment fund or PAIF. The PAIF is an open-ended investment company (OEIC) which has elected to join the PAIF regime by giving notice to HMRC. The aim of the new regime is to level the playing field between closed-ended and open-ended property funds. Therefore the PAIF is the open-ended sister to the REIT: PAIFs will carry on property investment businesses and PAIF...
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Kevin Ashman a tax partner at Lovells LLP and Suzanne Price an associate at Lovells LLP look at the conditions of the new property authorised investment funds regime
A new taxation regime for investors in property was introduced on 6 April allowing them to combine tax-efficient property investment with the flexibility of investment through an open-ended vehicle. The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 introduce the property authorised investment fund or PAIF. The PAIF is an open-ended investment company (OEIC) which has elected to join the PAIF regime by giving notice to HMRC. The aim of the new regime is to level the playing field between closed-ended and open-ended property funds. Therefore the PAIF is the open-ended sister to the REIT: PAIFs will carry on property investment businesses and PAIF...
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