- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)A joint venture company is chargeable to tax under section 538 (entry charge) if, after the giving of a notice under section 586(2) in respect of the company, condition A or B is met.
(2)Condition A is met if—
(a)the company that gave the notice under section 586(2) becomes the principal company of a group UK REIT,
(b)it gives a notice under section 586(1) in respect of the joint venture company, and
(c)its shareholding in the joint venture company has increased (but not to 75% or more) between the giving of the two notices.
(3)Condition B is met if the company that gave the notice under section 586(2)—
(a)increases its shareholding in the joint venture company to at least 75%, and
(b)gives a notice under section 523 (such that the joint venture company becomes a member of the new group UK REIT resulting from the notice).
(4)A joint venture company is chargeable to tax under section 538 if, after the giving of a notice under section 586(1) in respect of the company, the venturer holding in the company increases to at least 75% (and accordingly the company becomes a member of the venturing group).
(5)“The venturer holding” means the sum of the beneficial interests in the joint venture company held by members of the venturing group.
(6)Tax is chargeable as a result of subsection (1) or (4) in respect of the reduced notional amount.
(7)“The reduced notional amount” means—
(a)an amount of notional income calculated in accordance with section 539, less
(b)the amount of notional income already charged to tax under section 538 when the notice under 586(1) or (2) (as the case may be) was first given in relation to the joint venture company.
(1)A member of a joint venture group (“MJVG”) is chargeable to tax under section 538 (entry charge) if, after the giving of a notice under section 587(2) in respect of the group, condition A or B is met.
(2)Condition A is that—
(a)the company that gave the notice under section 587(2) becomes the principal company of a group UK REIT,
(b)it gives a notice under section 587(1) in respect of the joint venture group, and
(c)its shareholding in MJVG has increased (but not to 75% or more) between the giving of the two notices.
(3)Condition B is that the company that gave the notice under section 587(2)—
(a)increases its shareholding in MJVG to at least 75%, and
(b)gives a notice under section 523 (such that MJVG becomes a member of the new group UK REIT resulting from the notice).
(4)A member of a joint venture group (“MJVG”) is chargeable to tax under section 538 if a venturing group increases its shareholding in MJVG to at least 75% (and accordingly MJVG becomes a member of the venturing group).
(5)Tax is chargeable as a result of subsection (1) or (4) in respect of the reduced notional amount.
(6)“The reduced notional amount” means—
(a)the amount of notional income calculated in accordance with section 539, less
(b)the amount of notional income already charged to tax under section 538 when the notice under section 587(1) or (2) was given or (as the case may be) when MJVG became a member of the joint venture group.
(1)A joint venture company is not chargeable to tax under section 538 (entry charge) in a case where—
(a)a company which has given a notice under section 586(2) (“notice A”) in respect of the joint venture company becomes the principal company of a group UK REIT,
(b)the company gives a notice under section 586(1) (“notice B”) in respect of the joint venture company, and
(c)the company’s shareholding in the joint venture company has not changed between the giving of notice A and notice B.
(2)A member of a joint venture group is not chargeable to tax under section 538 in a case where—
(a)a company which has given a notice under section 587(2) (“notice A”) in respect of the joint venture group becomes the principal company of a group UK REIT,
(b)the company gives a notice under section 587(1) (“notice B”) in respect of the joint venture group, and
(c)the company’s shareholding in the member of the joint venture group has not changed between the giving of notice A and notice B.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys