The UK-REIT looks an increasingly promising prospect for hotel companies when it comes into force at the start of the New Year.
Draft guidance was published last week with Government tax officials taking another slight step to make the proposals more business friendly.
The guidance was based on the regulations put out at the start of November. But as any one who deals with tax officials knows, what matters is how these regulations are interpreted.
The good news is that there seems to be a clear effort on the part of government to make the UK-REIT as success. There are quibbles – which I’ll leave to the tax lawyers to explain more fully – but overall, it seems that the UK-REIT will be a workable beast.