Corporation Tax Act 2010 section 583

Overview of Chapter

Section 583 provides an overview of Chapter 10, which explains how the UK REIT rules apply when property rental businesses are carried on through joint venture arrangements.

• The chapter covers how the UK REIT regime applies to property rental businesses run by a joint venture company or by members of a joint venture group.
• A UK REIT group or company becomes a "venturing group" or "venturing company" by giving the required notice to HMRC, as set out in sections 586 and 587.
• Sections 588 to 590 deal with what happens once a notice has been given and how long it remains in effect.
• The remainder of the chapter provides specific modifications to the REIT rules for joint ventures, together with guidance on how to interpret the chapter's provisions.