Corporation Tax Act 2010 section 524

Notice for a company to become a UK REIT

Section 524 sets out how a company can elect to become a UK Real Estate Investment Trust (REIT) by giving notice, and the conditions it must satisfy in order to do so.

  • A company becomes a "company UK REIT" by giving notice specifying the date from which REIT status is to apply
  • Only a UK company that is not an open-ended investment company (OEIC) may give such a notice
  • The company is treated as a UK REIT from the date stated in the notice, and a new accounting period begins on that date
  • Giving notice alone is not sufficient — the company must also satisfy the ongoing conditions set out in section 527

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