Find the REIT solution
Find the REIT solution
- 2001
- Estates Gazette (0110) 10 March 2001, 153(1) .
The March 2001 Budget did not bring tax transparency to exempt bodies (eg pension funds) that are members of property investment limited liability partnerships (PILLPs). Instead, it has provided that such bodies will be taxed on the share of the income and gains they receive as a member of a PILLP. Discusses the current situation, and recommends the industry address the Revenue's concernes about UK REITs. Notes that government policy is compelling industry players to look for credible legal structures outside the UK.
PROPERTY INVESTMENT LIMITED LIABILITY PARTNERSHIPS
PILLPS
TRANSPARENCY
PROPERTY INVESTMENT VEHICLES
REITS
TAXATION
The March 2001 Budget did not bring tax transparency to exempt bodies (eg pension funds) that are members of property investment limited liability partnerships (PILLPs). Instead, it has provided that such bodies will be taxed on the share of the income and gains they receive as a member of a PILLP. Discusses the current situation, and recommends the industry address the Revenue's concernes about UK REITs. Notes that government policy is compelling industry players to look for credible legal structures outside the UK.
PROPERTY INVESTMENT LIMITED LIABILITY PARTNERSHIPS
PILLPS
TRANSPARENCY
PROPERTY INVESTMENT VEHICLES
REITS
TAXATION