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Tax treatment

Redefine International P.L.C converted to a UK-REIT on 4 December 2013.

Shareholders should note that the tax treatment of PID and Non-PID dividends differs.

Any Non-PID dividends will be treated in the same way as dividends paid by non-UK REIT companies.

PID dividends have not been taxed in the Company and therefore for most shareholders, PIDs will be paid after deducting withholding tax at the current basic rate of 20%.

However, certain categories of shareholder are entitled to receive PIDs without withholding tax:

  • UK resident companies
  • UK charities
  • UK public bodies
  • UK pension schemes
  • Managers of ISAs, PEPs and Child Trust Funds

Shareholders of the above who wish to be paid gross of withholding tax should complete the Beneficial Owners declaration form and Intermediary Declaration form.

Please note that most shareholders, including all individuals and all non-UK residents, do not qualify for gross payment and should not complete the forms. However, some overseas shareholders may be able to reclaim some or all of the withholding tax under relevant double taxation treaty.

A summary of the tax treatment for the various categories of shareholders is included in the REIT (Real Estate Investment Trust) document.