Real Estate Podcast EP3: Finance Bill 2018 – Impact on REITs

Following their blog post of 9 November 2018, in this podcast Herbert Smith Freehills partners Neil Warriner and Will Arrenberg and senior associate Casey Dalton discuss the recent changes affecting the UK REIT regime introduced in the Finance Bill 2018 and their potential impact of UK real estate investment structures. Read more

HMRC wins landmark SDLT avoidance case

In a 4-1 ruling, the Supreme Court has found in favour of HMRC in the long-running saga of Project Blue Limited v. HMRC (2018) UKSC 30, to the effect that the taxpayer was liable to pay stamp duty land tax (SDLT) on the amount of financing (£1.25bn) it received under the sharia’h law compliant structure, … Read more

Budget: Tax implications for real estate

Apart from a couple of pieces of good news, the Autumn Budget materials published earlier today contain a number of definite and potential changes to UK tax on real estate which could impact on pricing going forward. The good news in the residential sector is undoubtedly the headline-grabbing reduction in SDLT for first-time buyers. The … Read more

Autumn Statement – a tax ticking time-bomb for developers?

Author: Neil Warriner, Partner, Real Estate Tax, London From a real estate tax perspective, the Autumn Statement was a bit of a damp squib, but confirmation of a couple of well-trailed changes to restrict relief for interest costs and the use of carried-forward losses for corporation tax purposes, together with one apparently innocuous announcement of … Read more

Releasing rights of light and development: 7 key questions

Author: Eidin Crowdy, Associate, Real Estate, London In this post, we address how a property developer may investigate whether rights of light affect his or her land and if so, how to negotiate their release.  A right of light is an easement or right belonging to a landowner which allows unobstructed daylight through windows.  Proposed … Read more