An opportunity for smaller investors to get involved

Pifs

The make-up of Pifs, due to launch some time next year, rests on the outcome of Government proposals - but when they do finally arrive, property investors look set to reap the rewards

Last March, the Chancellor announced the Government's proposal for property investment funds (Pifs) and the consultation investment industry is now anxiously awaiting its decision as to the make-up of the funds, which could be introduced some time next year. The new funds will be similar to the real estate investment trusts (Reits), which have been available in the US, Australia and France for several years. Put simply, Pifs will enable small investors to share in property ownership without being taxed on rental or capital income. The trusts will then distribute most of their income to sha...