SCHEDULES
SCHEDULE 4Real estate investment trusts
Being a UK REIT: conditions for company - close companies
3
In section 527 (being a UK REIT in relation to an accounting period) after subsection (4) insert—
5
Subsections (2)(a) and (3)(a) are also subject to subsections (6) to (8).
6
If the accounting period ends during the first 3-year period, condition D in section 528 does not have to be met.
7
If the accounting period begins, but does not end, during the first 3- year period, condition D in section 528 only has to be met throughout the part of the accounting period falling after the end of the first 3- year period.
8
In subsections (6) and (7) “the first 3-year period” means the period of 3 years beginning with the date specified in the notice given under section 523 or 524.