Last month Brexit claimed its latest victim in the UK’s troubled property sector. Since their introduction in 2007, Reits have been a popular structure for large UK property companies that control shopping malls, warehouses, offices and residential developments. Investors like them because profits, distributed as dividends, are taxed once, when they reach investors’ pockets. Reits don’t have to pay direct taxes on their income and capital gains. With the UK’s property sector looking at an uncertain future, however, the…

Source: The Times December 08, 2018 00:00 UTC