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ARTICLE · 09 FEBRUARY 2024

Finance Bill 2023-2024 Introduces Changes To REIT Rules

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Amendments to the UK real estate investment trust (REIT) rules were introduced in the new Finance Bill 2023-2024, which is expected to become law in the summer of 2024.

United KingdomFinance and Banking
Duncan Hubbard
Duncan Hubbard
William Lo
William Lo
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Amendments to the UK real estate investment trust (REIT) rules were introduced in the new Finance Bill 2023-2024, which is expected to become law in the summer of 2024. Published on 29 November 2023, the amendments reaffirm a number of measures announced by the UK Government when the first draft of the legislation was published in July 2023, as well as containing a number of further changes to the REIT rules.

Key Changes

The key changes can be summarised as follows:

  • Condition D of the REIT rules requires a REIT to be non-close or only close as a result of an institutional investor being a participator; this will be amended so as to confirm that this condition can be satisfied through indirect ownership by institutional investors.

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