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Charles Beer Head of Real Estate Tax at KPMG outlines how the Budget has affected the property sector
The main excitement for the property sector in this year's Budget was the publication of a further discussion paper on Real Estate Investment Trusts. While this was widely expected it is nonetheless very welcome. Other relevant changes were mainly in the stamp duty land tax area and in confirmation of the new capital allowance regime for renovation of business premises in disadvantaged areas.
The latest discussion paper on Real Estate Investment Trusts (now to be called UK-REITs) has been widely welcomed already. The Treasury and Inland Revenue have clearly listened to the responses to the earlier consultation...

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