The UK REIT regime is widely regarded as the government’s flagship property investment regime. Given the growing trend to use ‘onshore’ vehicles for UK property investment and the impending increase in the corporation tax rate to 25% from 1 April 2023, tax-exempt REITs are likely to be used more and more. The draft Finance Bill 2021/22 contains some proposed changes to the REIT regime, which are being made alongside the introduction of the asset holding company rules, to remove unnecessary barriers and make it more competitive internationally. A further comprehensive review of the REIT rules is intended to form part of the government’s wider funds review.
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The UK REIT regime is widely regarded as the government’s flagship property investment regime. Given the growing trend to use ‘onshore’ vehicles for UK property investment and the impending increase in the corporation tax rate to 25% from 1 April 2023, tax-exempt REITs are likely to be used more and more. The draft Finance Bill 2021/22 contains some proposed changes to the REIT regime, which are being made alongside the introduction of the asset holding company rules, to remove unnecessary barriers and make it more competitive internationally. A further comprehensive review of the REIT rules is intended to form part of the government’s wider funds review.
If you are not a subscriber, subscribe now to read this content.
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