Revenue looks into possibility of property Isa

The Inland Revenue is examining ways to allow funds such as those that invest in physical property t...

The Inland Revenue is examining ways to allow funds such as those that invest in physical property to be eligible for Isas. Funds that invest in bricks and mortar are classified non-Ucits and, as such, are not currently eligible for the wrapper. Since 1 April, non-Ucits funds have been able to use additional flexibility in the construction of their portfolios, including gearing and access to hedge funds. For example, a non-Ucits portfolio can have up to 20% exposure in hedge funds, while a Ucits fund can have none. However, there are several issues that the Revenue needs to resolve bef...