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Focus on Property

Charles Beer Tax Partner KPMG outlines the main tax announcements for the property industry
The Pre-Budget Report contained several items of particular interest to the property industry. Property and housing in particular was an area of focus for the Chancellor's speech and much of the Pre-Budget Report itself. I will not here go into the proposals for reform of planning and increase in social housing. I will focus instead on the main tax announcements.
The big news for the property industry was the announcement that Real Estate Investment Trusts (REITs) would be introduced in the UK. This has been widely welcomed as it was not certain that the Government had accepted...

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