REITs
British Land became a Real Estate Investment Trust (REIT) from 1 January 2007
The REITs regime reinforces the competitive position of quoted property companies like British Land, offering focused real estate investment with a pre-eminent combination of performance, scale and accessibility.
British Land is well suited to the REIT regime with no significant changes of structure to the Company required in order to meet the REIT conditions. The principal effects of becoming a REIT are:
- The Group no longer pays UK corporation tax on profits and gains from the UK qualifying property rental business
- As a REIT, the Company is required to distribute to shareholders at least 90% of the income profits arising from the tax-exempt business
- British Land paid an entry charge broadly equal to 2% of the aggregate market value of properties and other assets of the UK qualifying property rental business at the date of conversion.
Relevant links
Links to PDFs and external websites will open in a new browser window
REITs - Tax Consequences PDF > (27KB)
REIT declaration - beneficial owner form PDF > (19KB)
REIT declaration - intermediary form PDF > (19KB)
EGM Circular PDF > (103KB)
Results of EGM >
REIT World UK Presentation Nov 2006 PDF > (128KB)
A Guide to UK REITs (December 2006) PDF version > (3MB) | Interactive version >
Dividends >
Reita.org >
London Stock Exchange >