<a href= Baker & McKenzie REIT Report
LAWFUEL – From 6 April 2008, a new form of regulated tax-advantaged real property investment company known as a “property authorised investment fund” (PAIF) will become available in the UK. It is modelled on existing rules for open-ended equity and bond authorised investment funds in the UK.
A PAIF is potentially a more flexible and tax-efficient UK property investment vehicle than a closed-ended listed UK REIT.
The PAIF tax regime is outlined in this Alert, together with the main advantages and disadvantages of PAIFs compared with UK REITs.