Budget: UK REITs boost

It means people investing in property AIFs would pay the same tax as they would if they had owned real property or a REIT directly. David Butler, programme co-ordinator for Reita, the campaign to promote UK REITs, welcomed the announcement. “This is further evidence that REITs are simple, tax-efficient vehicles,” he said. Butler added the framework set REITs as a basic standard for the way property vehicles performed. The Government has been trying to identify ways to tax property AIFs and today’s Budget announcement comes following talks with industry bodies and other represen...