Budget 2013: Deloitte comments on REIT's
More good news for REITs
21 March 2013
Phil Nicklin, real estate tax partner at Deloitte, the business advisory firm, comments on the impact of today’s Budget on Real Estate Investment Trusts:
“Things only get better for REITs. Today’s Budget shows continued Government support for REITs, with further proposals that will help attract investment into UK property.
“The changes to the REIT regime that came into effect from July 2012 are already attracting institutional investors into REITs, especially from overseas. The proposed consultation on including REITs as institutional investors is welcomed. If introduced, it will allow REITs to run their businesses more flexibly and facilitate further investment in the UK property sector, particularly through joint ventures.
“Since July 2012, it has been possible for REITs to be traded on AIM. The potential abolition of stamp duty on shares quoted on AIM and other growth markets will benefit those REITs that use those markets.”
Notes to editors
About Deloitte Real Estate: Deloitte Real Estate redefines the concept of a full-service real estate business, offering a breadth of capability and an innovative approach unequalled in the market.
Our team combines traditional property services with financial and business advisory expertise to deliver integrated solutions on the most simple assignment to the most complex. We apply a depth of insight drawn from our understanding of all industries and sectors to advise occupiers, lenders, investors and the public sector on every aspect of real estate in an increasingly complex world.
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
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