The government has said it will introduce seeding relief for property authorised investment funds (PAIFs), allowing such funds to launch without incurring stamp duty.
The move, which the government had consulted on earlier this year following proposals first mooted in this year's Budget, was confirmed in today's Autumn Statement. Today the government said the changes will be introduced as part of its Investment Management Strategy, first unveiled in the 2013 Budget. "The government intends to introduce a seeding relief for property authorised investment funds (PAIFs) and co-ownership authorised contractual schemes (CoACSs)," the Treasury said today. It will also ensure stamp duty is not incurred when units are transferred within CoACSs, subject ...
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