Retail Trade: Urban Areas — Written Question

Question

James McMurdock

Independent — South Basildon and East Thurrock

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of tax disincentives that prevent pension property owners from letting units at reduced rates on (a) high street regeneration and (b) town centre vacancy rates.

Answer

Torsten Bell

Pension schemes can rent out commercial property at below market value. The only restriction on this is that there is an unauthorised payment charge where the tenant is connected with the pension scheme. This rule prevents value being transferred out of t...

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