It is certainly a busy time for those in the real estate sector with an interest in tax matters. Next month (April) sees the introduction of the residential property developer tax (RPDT), changes to the REIT rules and the introduction of the qualifying asset holding company (QAHC) regime. In addition, the government’s ongoing review of the UK funds regime looks set to generate further reforms relevant to real estate, as do various international initiatives (such as the EU’s shell entity proposals). There are also potential changes to various aspects of asset-level (or “bricks and mortar”) taxes coming down the line.
With so many tax changes imminent or on the horizon, it can be difficult for those in the real estate sector to stay on top of things. So this briefing provides a checklist of key tax issues you should be aware of (including potentially significant future developments) and sets out the actions that you might consider taking in preparation for the changes.
As one of the largest teams of tax lawyers in the City, we advise on all tax issues relating to real estate. We are currently advising clients on the matters identified in this briefing, and, through our membership of industry bodies and government working parties, are also involved in many of the new developments referred to in this briefing.