Charles Beer Senior Partner in KPMG's Real Estate Tax Practice reviews the Pre-Budget Report from the standpoint of the property market
Given the dire state of the current UK property market it was perhaps surprising that property did not feature more strongly in the tax changes announced in the Pre-Budget Report. The one significant announcement related to real estate investment trusts (REITs); there were also some less significant announcements relating to land remediation relief and business rates. In addition the VAT changes will have implications for property owners and users.
REITs
A number of pub companies had announced that they were considering converting to REIT status. The companies concerned were in some cases owners of tenanted...
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Charles Beer Senior Partner in KPMG's Real Estate Tax Practice reviews the Pre-Budget Report from the standpoint of the property market
Given the dire state of the current UK property market it was perhaps surprising that property did not feature more strongly in the tax changes announced in the Pre-Budget Report. The one significant announcement related to real estate investment trusts (REITs); there were also some less significant announcements relating to land remediation relief and business rates. In addition the VAT changes will have implications for property owners and users.
REITs
A number of pub companies had announced that they were considering converting to REIT status. The companies concerned were in some cases owners of tenanted...
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:
