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- Re: this is the paragraph from the slimes own report
Shares in property companies often trade at a discount to net asset value and perform like equities in the short term. However, they are relatively inefficient in tax terms, as investors are effectively taxed twice on the profits of the company. The company is subject to corporation tax on income and capital gains, and investors are also subject to tax on dividends received and the proceeds of sale of shares in line with the position of other shares.
Therefore, conversion to REIT status can carry substantial tax benefits. REITs are essentially companies or groups of companies that manage a portfolio of real estate to earn profits for shareholders, and their special tax status means that they pay no corporation tax on the profits of their rental business, but they need to comply with a number of conditions set out in tax law.