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Article: Enterprise Inns rallies on REIT move.
- Article from:
- Daily Mail (London)
- Article date:
- May 8, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Simon Duke
ENTERPRISE Inns has been given the green light to convert into a low-taxreal estate investment trust, providing a much needed pick-me-up to the pubssector.
Following months of talks with the taxman, the owner of over 7,000 tenantedpubs could soon become the first bar group to spin off its estate into aseparate property company.
The floodgates are now open for rivals to also take advantage of the REITrules, which free companies from paying income tax on rental income within atrust.
The news came as a welcome boost to the pubs industry, which has been under adark cloud since the smoking ban came into effect last ...