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Corporation Tax Act 2010

Section 576: Notice under section 572: breach of conditions as to balance of business

1808.This section sets out the circumstances in which an officer of Revenue and Customs may issue a notice under section 572 to terminate the UK REIT regime if there is a breach of either condition A or B in section 531. It is based on sections 116(1) and (3), 129(2) and 134(1) of FA 2006.

1809.Subsection (1) requires the notice to be given by an “officer of Revenue and Customs” rather than by “the Commissioners for Her Majesty’s Revenue and Customs”. See Change 5 in Annex 1.

1810.This section enacts regulation 7B(4) to (7) of SI 2006/2864. See Change 43in Annex 1.

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