Shares in UK Real Estate Investment Trusts (UK-REITs) will be eligible to be held in Individual Savings Accounts (Isas), Personal Equity Plans (Peps), and Child Trust Fund accounts (CTFs) according to draft legislation consultation documents published by the Government.
The consultation documents released by Her Majesty’s Revenue and Customs (HMRC) set out the draft legislation as it would apply to a single company, and include the key features and rules companies would be required to meet in order to join the UK-REIT regime. HMRC say details of how legislation will apply to group structures will be published shortly. UK companies which are publicly listed on a recognised stock exchange will be allowed to become a UK-REIT, providing no person controls 10% or more of the company's ordinary share capital or voting rights. Meanwhile, for tax purposes, the ...
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