Company update would be much appreciated on this. Is it in progress with an expected implementation date? Every other broker has REITās in an ISA. I understand there is work required but customers should be kept informed (please).
Back in May @adam said he was āNot sure about the UK REIT/ISA issue tbh, but will ask the product team.ā Hopefully he hears back and we get an update soon.
Hello, would anyone else like REITs such as reci, Soho, csh etc to be available in the isa and sipp accounts to provide tax sheltering.
This appears to be on free trades future plan. see the response from Alan(free trade) below. Please vote to speed this up.
Yes, we do have plans to offer this in the future.
To provide you with some context - Real Estate Investment Trusts (REITs) charge 20% tax if they issue a distribution (dividend) as a property income distribution (PID). This isnāt applicable for any REITs in ISAās, so the 20% should be refunded to ISA customers in this instance. We donāt have the means to do this just yet so we avoid this by not allowing REITs to be purchased within these account types.
Weāre hoping to offer this soon though.
Hope this helps, let me know if you have any further questions at all.
I have a newly opened SIPP with Dodlā¦ They have a very limited amount of stocksā¦ The only REIT available is British Land. They also have 2 house builders & an L&G Global Real Estate index fund. I believe they are available in ISA also.
REITs can be kept in freetrade SIPPs anyway. The issue is specifically around RIETs in ISAs because of how some RIETs pay income via PIDs which are taxed before you receive them. You shouldnāt get taxed in the ISA so you should get the 20% back. Freetrade doesnāt have a setup to support this yet, hence no RIETs in an ISA but you can get them in other accounts.
