Property authorised investment funds — where are we going?
In 2008, the government introduced tax breaks for UK property funds. It has taken five years for the industry to start responding. Now we are seeing authorised investment funds being launched as property authorised investment funds (PAIFs). Why the delay? Market conditions have played a large part in the lack of action. However, there are still practical and tax issues to be resolved. Combining the flexible regulations of qualified investor schemes (QISs) and tax efficiency may give business opportunities to fund managers to offer new vehicles to the market.
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News from The Lawyer
Briefings from Nabarro
Nabarro has released the May 2013 edition of its Real Estate newsletter.
The government published legislation at the end of last week that will relax the rules on when planning permission is needed for change of use.
Analysis from The Lawyer
A few UK200 firms – such as DWF – have managed to grow in the downturn. A few, such as Berwin Leighton Paisner, have come back stronger than ever after a wobble. Nabarro fits into neither category.