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UK Funds

The UK Governments is carrying out a review of the UK funds regime, covering tax and relevant areas of regulation.

Publications

HMT consultation on sovereign immunity from direct taxation  

Published on 25 Oct 2022

Download the latest snapshot on HMT sovereign immunity from direct taxation consultation to get an overview of the proposed changes that would directly impact sovereigns investors and indirectly affect real estate investment managers and sovereigns’ joint venture partners.

INREV response to the HMT consultation on the Residential Property Developer Tax (RPDT)  

Published on 14 Jul 2021

On 14 July, INREV filed a response to the HMT consultation on the Residential Property Developer Tax (RPDT). INREV urges HMT to keep investment asset classes such as BTR and PBSA outside the scope of the RPDT.

INREV, AREF and BPF joint proposal on UK AIFMD External Valuer Liability  

Published on 12 May 2021

On 7 May, INREV, together with AREF and BPF submitted a joint proposal to the UK Financial Conduct Authority on UK AIFMD External Valuer Liability. The submission proposed raising the threshold for unlimited liability of external valuers from “negligence” to “serious error”.

Opportunities in the UK Funds Review Briefing  

Published on 23 Mar 2021

A joint INREV/AREF/IPF briefing where we looked at the details of the proposed new PIF (CS) and LTAF fund structures and the implications they could have for the real estate funds sector, as well other aspects of the call for important input on this consultation.

INREV Responds to HMT Consultation on AHCs in Alternative Investment Funds  

Published on 23 Feb 2021

On 22 February, INREV filed a response to the HMT consultation on AHCs in Alternative Investment Funds. We proposed that this consultation only progresses to the next stage of proposed AHC legislation when there is a consensus on key policy goals between HMT, HMRC and industry.

INREV response to consultation on disposals of assets by non-UK residents  

Published on 04 Sep 2018

On 30 August, INREV filed a response to the HMRC consultation on Disposals of assets by non-UK residents and payments on account. Developed with support by the tax committee, the response focuses on capital gains taxation of property held by non-resident investors accruing after April 2019 and is closely aligned with views of the BPF.