Budget: Open or closed property - a question of trust?

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Property investment funds would be required to give at least 90% of their income to investors, suggests a Treasury consultation on plans for new property investments.

Details of the Promoting more flexible investment in property consultation - which forms part of the Budget announcement - suggests the Treasury will require 90% of income – before depreciation – from all investments, along with a potential 100% of rental income, to be given to investors in the PIF, in order to qualify products under corporation tax rules. At the same time, however, the Treasury suggests elsewhere within the document PIFs could also be set to be exempt from corporation tax, so no firm tax route has yet be taken. Following this morning's publication of the barket revi...

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