Corporation Tax Act 2010 section 573

Notice under section 572: tax advantage

Section 573 sets out the circumstances in which HMRC can terminate a company's or group's UK REIT status because of repeated tax advantage notices.

• If a group or company UK REIT receives two tax advantage cancellation notices within a ten-year window, HMRC may terminate its UK REIT status.
• For a group UK REIT, the two notices may be given to any members of the group, not necessarily the same member.
• For a company UK REIT, both notices must have been given to that company.
• The ten-year period runs from the date the first tax advantage cancellation notice was issued.