After a (relatively) quiet start to 2023 from the perspective of tax developments relating to the real estate sector, the Spring Budget and April's Tax Administration and Maintenance Day (TAAMD) saw the announcement of several important measures and consultations. Several of these relate to real estate funds and stem from the government's ongoing review of the UK fund landscape, such as the publication of a consultation on the possible introduction of a new form of onshore contractual fund. However, there have also been important tax developments on a "bricks and mortar" level, such as the introduction of full expensing for qualifying capital expenditure until March 2026.
With so much going on, it can be difficult to stay on top things. This briefing, therefore, provides a checklist of the key tax issues that those in the real estate sector should be aware of (including potentially significant future developments) and sets out the actions that you should now be undertaking in preparation.
How we can help
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 here.
