Mad dash expected for REITS status

Mad dash expected for REITS status

Many property companies likely to take on new tax-efficient structure

In the wake of the government’s climbdown on Real Estate Investment Trusts,
the city is predicting that there will be a mad rush by property companies to
take on the new tax-efficient status.

Earlier this week property companies added £2.4bn in market value following a
10% rise in their share prices after the chancellor made major concessions on
the structure of REITS.

REITS pay no corporation tax if they distribute at least 90% of their
earnings to shareholders.

The REIT regime takes effect next January.

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