Declaration of Eligibility for PID Payments
A Real Estate Investment Trust may pay dividends as either a Property Income Distribution (PID) or a normal dividend or a combination of both. The amount a REIT must pay as a PID is determined by reference to its tax exempt property profits as determined by the REIT regulations.
Shareholders who qualify for gross PID payment of distributions are principally UK resident companies, certain UK public bodies, UK charities, UK pension schemes, and the managers of ISAs, PEPs and Child Trust Funds (in each case subject to certain conditions set out in the relevant regulations). Most shareholders, including all individuals and all non-UK residents, do not qualify for gross payment and should not complete either of these forms.
The forms available on the company documents page should be completed to apply for payment of distributions to shareholders gross (i.e. without the deduction of tax). The first form should be completed by intermediaries (i.e. stockbrokers) acting on behalf of the beneficial owners of the shares, while the second form can be completed by shareholders who hold their shares directly.
For qualifying shareholders who have not previously submitted a form, this must be received by the Registrars by the record date to qualify for gross payment of the PID element of upcoming dividends.