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UK REIT taxation
This page provides information on the UK REIT tax regime, which has applied to Hammerson since 1 January 2007.
As a UK REIT, Hammerson plc is exempted from corporation tax on rental income and gains on UK investment properties but is required to pay Property Income Distributions (PIDs). UK shareholders will be taxed on PIDs received at their full marginal tax rates. A REIT may in addition pay normal dividends and Hammerson currently expects that its interim dividends will be paid entirely as PIDs while its final dividends will have both a PID and a normal dividend element.
For most shareholders, PIDs will be paid after deducting withholding tax at the basic rate. However, certain categories of shareholder are entitled to receive PIDs without withholding tax, principally UK resident companies, UK public bodies, UK pension funds and managers of ISAs, PEPs and Child Trust Funds.
The links opposite provide information on the UK REIT tax regime, which has applied to Hammerson since 1 January 2007, including declarations to be completed by those categories of shareholder to register for Property Income Distributions (PIDs) to be paid gross of withholding tax.
Most shareholders, including all individuals and all non-UK residents, do not qualify for gross payment and should not complete the forms.