IMA argues case for open ended property funds

Proposals for PIFs have been put forward by the government as a means to unlock investor demand for property-based investments similar to those enabled in countries such as Australian and the US. However, the IMA says in its response that the UK market for property funds will only really take off if all types of collective investment schemes are able to offer access to property assets. The association says the government should “tax income in the hands of the investor and not at the fund level.” ”But, tax basic rate taxpayers at their lower rate of 20% in order to maintain parity w...