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TIL: why property is power in the UK

1 min read

Well, I never knew this, and only found it out as a buried lede:

The figures from UHY Hacker Young show that after property and real estate firms, which had an effective rate of just 1.9% because as real estate investment trusts they do not face corporation tax, the pharmaceutical sector had the lowest average effective tax rate, at 13%.

And now I do know it, it's very clear why it isn't more widely known. I think I might make efforts to amend that.