Government proposes exempting REITs from CGT

Philip Hammond

The government has proposed giving REITs an exemption to capital gains tax (CGT) when they make disposals of UK properties held in company structures.

In a document published alongside the Budget this week, the government said REITs would no longer be taxed on gains from the sale of so-called “property-rich entities”. REITs are already exempt from capital gains tax when they dispose of UK properties directly.

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