Corporation Tax Act 2010 section 525

Notice under section 523 or 524: supplementary

Section 525 sets out the procedural requirements and accompanying documentation that must be provided when a company or group gives notice to become a UK Real Estate Investment Trust (REIT).

• The notice must be submitted in writing to HMRC before the date specified in the notice itself, and must be accompanied by any additional information or documents prescribed by HMRC regulations.
• The notice must include a statement confirming that the company reasonably expects to satisfy conditions A, B, C, E and F (the eligibility conditions for REIT status set out in section 528) throughout its first accounting period.
• Where the company does not expect to meet condition C on the very first day of the first accounting period but does expect to meet it for the remainder of that period, an alternative statement may be provided instead, confirming that condition C will be met for at least part of the first day and throughout the rest of the period.
• The term "accounting period 1" — the first accounting period of REIT status — is defined in section 609 of the Act.