Changes for SDLT rules on PAIFs in sight
The government is looking into changing the way property authorised investment funds (PAIFs) and contractural schemes (CoACSs) are treated for stamp duty land tax (SDLT) purposes.
The consultation, Stamp Duty Land Tax: Rules for property investment funds seeks evidence from the asset management, property sectors and all other interested parties.
It finishes on 12 September and is also looking for input on the potential design of the changes.
The government's suggestion is to introduce seeding relief for PAIFs, in addition to discussing how to make CoACSs more suitable for investment in property by changing its SDLT treatment.
The consultation was announced in the Budget 2014, after requests to change the way SDLT applies to both PAIFS and CoACSs.
"Stakeholders suggest that relieving SDLT in certain circumstances could encourage more property funds to set up in the UK and facilitate greater collective investment in UK property," the announcement reads.
Those interested in submitting views should contact:
Or write to:
Enterprise and Property Tax team
1 Horse Guards Road