As part of the Autumn Statement 2023, the Government published the Policy paper Real Estate Investment Trust regime amendments. This paper details amendments to the tax rules applying to REITs, including some of the conditions that determine whether a company qualifies as a REIT. The objective is to modernise the regime and alleviate certain constraints and administrative burdens, to enhance the attractiveness of the UK REIT regime for real estate investment, and ensure that the rules keep pace with commercial practice.
The November 2023 Policy paper follows on from the Corporation Tax - amendments to the Real Estate Investment Trust (REIT) regime Policy paper published in July 2023 by HM Revenue & Customs.
An article on how previous reforms to the REIT regime have helped in the continuing rise of the REIT can be found here.
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