Since our last briefing, there have been several significant tax developments which affect the real estate sector. The new Labour Government's first Budget included welcome confirmation that it will press on with introducing a new form of investment fund (the RIF) that is expected to be particularly attractive for investment in commercial real estate, and proposals for significant reform to the tax treatment of carried interest. Throw in increases in the SDLT additional dwellings surcharge and the rate of ATED-related SDLT, reforms to business rates and a defeat for HMRC in (what it at least considered to be) an SDLT avoidance case, and there is a lot to stay on top of. This briefing provides a checklist of the key tax developments that those in the real estate sector should be aware of.
How we can help
We are advising clients on the full range of matters identified in this briefing. If you have any questions, please get in touch.
