Corporation Tax Act 2010 section 528A

Further condition relating to shares

Section 528A sets out a share listing or trading condition that must be met by UK Real Estate Investment Trusts (REITs), whether operating as a group or as a single company, in order to maintain their REIT status.

• A UK REIT must have its ordinary share capital either officially listed or traded on a recognised stock exchange throughout or during each accounting period.
• For a group UK REIT, this requirement applies to the shares of the principal company of the group.
• For a single company UK REIT, the requirement applies directly to that company's own ordinary shares.
• This condition is subject to a relaxation under section 528B, which eases the requirement for the first three accounting periods.