HMRC are considering changes to the legislation on the taxation of UK property rich collective investment vehicles (CIVs) and their investors. The proposed changes aim to address instances where disproportionate burdens can arise for certain investors, alongside correcting minor drafting errors. HMRC notes that the consultation ‘will be of interest to managers and advisers of collective investment vehicles, investors in collective investment vehicles and representative bodies’. The consultation closes at 11:45pm on 16 December 2020.