A timely comment from my colleague Mark Slade on the commercial benefits of the UK REIT regime (see here). 

Legislation published on 7 November 2018 confirmed the proposed approach to extending CGT to non-resident investors in UK property, from April 2019.  

In general terms, the legislation seeks to achieve a level playing field for UK based collective property funds (i.e. REITs) and their non-UK equivalents (e.g. JPUTs).  Taxable non-UK investors in both will be subject to UK CGT, regardless of the size of their holding (i.e. the 25% de minimis threshold which applies to investors in non-collective vehicles will not apply). 

This parity of treatment means REITS remain alive and well as an effective vehicle for collective investment in property, from a tax and non-tax perspective. 

Further information can be found in found in the Macfarlanes Guide to UK REITs.