BusinessCompany NewsProperty company set to list for tax breaks

Property company set to list for tax breaks

DevCap investors to benefit from AIM listing, which will provide IHT relief and business asset taper relief on capital gains tax

A property development company that seeks create a minimal exposure to tax
for investors is looking to raise £50m by listing on AIM.

The AIM-listed property company, called DevCap, will provide investors with
relief on inheritance tax and business asset taper relief on capital gains tax,
due to its structure.

After two years the company is expected to distribute a core dividend of 5%
with special dividends financed from profit on sales.

The minimum individual investment has been set at £40,000, although
institutional investors are also expected to invest in the company.

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