AITC warns of threat to property vehicles

The head of the UK's Association of Investment Turst Companies (AITC) believes government tax plans will hinder launch of property vehicles. Real Estate Investment Trusts (Reits) could prove too complicated and expensive to be attractive if the Government has its way, according to Daniel Godfrey, director general of the AITC. Godfrey said he is not optimistic that Reits will be implemented quickly, with the project already lasting more than two years in the UK. He believes the Government's determination to avoid any tax leakage through the vehicles, particularly from offshore investors, ...