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City Column

Stephen Edge Slaughter and May highlights the medium-to-longer-term implications of some of the announcements in the Pre-Budget Report
The City was for once probably more interested in the underlying economics than in the detailed tax changes which were either highly focused on particular areas (and so minority-interest sports only) or general precursors of what might come.
Those who were feeling particularly alert however could well have spent time considering the medium-to-longer-term implications of the following.
●     The Government is now committed to implementing REITS in corporate model form. No detail was provided beyond that basic outline but the Government has obviously rejected the use of a trust structure to divert property income directly to investors with a normal Schedule A...

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