PIMA welcomes decision to make REITS a qualifying investment for ISAs
The Budget announcement that Real Estate Investment Trusts are able to be included in ISAs is welcomed by PIMA. This will allow retail investors, sixteen million of which already have investments in ISAs, to own property and thereby have exposure to property as an investment class without taking the risk of wholly owning. The ability to do so in a tax-preferred wrapper will allow for even further diversification within the ISA wrapper.
Tony Vine-Lott, director- general of PIMA, said:
[i]‘We welcome the Treasury’s firm commitment to allow REITS to be included in ISAs. Allowing property as a qualifying investment will give investors a greater range of choice for their tax-incentivised savings. This can only further enhance the attractiveness of ISAs the foremost vehicle for savings in the UK.’[/i]
For more information:
Tony Vine-Lott, Director-General, PIMA
07790 006108
Iain Anderson or Jacob Coy, Cicero Consulting
020 7665 9535
078 8619 7086