Ian Jones Real Estate Tax Partner at KPMG outlines some of the issues facing property investors considering converting into REITs
Following the announcement in the March Budget of favourable changes to the proposed rules for Real Estate Investment Trusts (REITs) interest in converting has been growing amongst listed property companies and their investors. The Board of Hammerson plc has already announced that if the Finance Bill provisions are enacted substantially in their current form the company will elect for REIT status to take effect from January 2007 and most other larger listed property companies are expected to follow suit.
Broadly a REIT will benefit from a tax exemption in relation to its profits from a qualifying property letting business and an exemption for qualifying chargeable gains. Instead...
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Ian Jones Real Estate Tax Partner at KPMG outlines some of the issues facing property investors considering converting into REITs
Following the announcement in the March Budget of favourable changes to the proposed rules for Real Estate Investment Trusts (REITs) interest in converting has been growing amongst listed property companies and their investors. The Board of Hammerson plc has already announced that if the Finance Bill provisions are enacted substantially in their current form the company will elect for REIT status to take effect from January 2007 and most other larger listed property companies are expected to follow suit.
Broadly a REIT will benefit from a tax exemption in relation to its profits from a qualifying property letting business and an exemption for qualifying chargeable gains. Instead...
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:
