Part 4Real Estate Investment Trusts

Introduction

103Real Estate Investment Trusts

1

This Part enables a company which carries on property rental business (within the meaning of section 104) and which satisfies the requirements of sections 106 to 108 to opt to—

a

benefit from exemptions from corporation tax on profits and gains in accordance with sections 119 and 124, and

b

have liabilities to tax imposed on the company and the recipients of distributions made by the company in accordance with sections 112, 121 and 122.

2

This Part makes similar provision in relation to groups of companies (sections 134 to 136 and Schedule 17).

3

A company or group to which this Part applies may be referred to as a Real Estate Investment Trust.