'New REIT rules prevent company tax dodges'

Hopes that supermarket groups and pub operators could turn themselves into tax-efficient property trusts were dashed by the Chancellor yesterday. The Treasury announced new rules on Real Estate Investment Trusts to prevent companies that were not pure property investment businesses converting to REIT status to avoid tax. Ministers had become increasingly concerned that property-rich businesses like pub groups and supermarket groups could restructure themselves into REITs - The Times​

The pub trade was angered last night by the news that alcohol duty will rise by eight per cent next Monday, offsetting the cut in VAT. The Treasury insisted that pubs would benefit more than supermarkets. A Treasury spokesman said pubs, which tend to charge more for drinks, should see a slight reduction in prices because the VAT levied was higher than that on alcohol sales in supermarkets and other retail outlets - The Times​

The pub industry has accused the chancellor of "turning a deaf ear" to their plight by ensuring alcohol sales do not benefit from the 2.5 percentage point reduction in VAT. Alistair Darling said yesterday that duty on alcohol and tobacco would be increased to offset the VAT cut, with a "neutral" impact on the average cost of a pint of beer, bottle of spirits, bottle of wine and packet of cigarettes - The Guardian​

Controlling shareholders at the newly created Anheuser-Busch InBev, the world's biggest brewer, have more than doubled the amount of new shares they will acquire in the company's €6.36bn (£5.4bn) rights issue, details of which were announced yesterday. The planned cash call will repay bridging loans taken out to help finance Belgian-based InBev's $52bn (£34.3bn) acquisition of the US brewer Anheuser-Busch - The Guardian​

A barmaid was shot during a suspected botched pub robbery. Paramedics treated Nicola Wager, 23, at the Old Crown in Paganhill, Stroud for a wound to her stomach, late on Saturday. Police believe a pellet gun was fired into her abdomen, following a struggle with an intruder at 11.40pm. She was treated at the scene for minor injuries - The Gloucester Echo​