In case of a hard Brexit, many technical changes need to be made to UK tax rules that currently interrelate with EU law. A mapping exercise has been completed to summarise the tax-related impacts of a hard Brexit on non-listed real estate.
UK property investment businesses with a European Union parent face the loss of favourable tax regimes in the event of a hard Brexit, according to an Inrev (Investors in Non-Listed Real Estate Vehicles) illustration. Photograph: The agency urged businesses to examine whether their existing group structure is subject to withholding taxes and said they might have to consider moving UK bases to a EU member state.