Search Legislation

Advanced Search

Finance Act 2009

Summary

1.Section 66 and Schedule 34 amend provisions in Part 4 of the Finance Act (FA) 2006 relating to Real Estate Investment Trusts. The following areas are covered in the Schedule:

  • a new measure to stop exploitation of the Real Estate Investment Trust (REIT) regime where businesses restructure to gain the benefits of the regime;

  • the Schedule removes an unintended barrier to joining the regime;

  • the Schedule allows that a charge to tax incurred by a REIT for breaching the profit finance cost ratio may be waived in particular circumstances; and

  • the remainder of the Schedule clarifies and makes more consistent the existing legislation.

Back to top

Options/Help

Print Options

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources