SCHEDULES

SCHEDULE 1Small profits rate for non-ring fence profits

PART 3Consequential amendments

CTA 2010

23

In section 535 (REITs: gains), after subsection (5) insert—

6

Gains which—

a

accrue to residual business of a company which is, or is a member of, a UK REIT, and

b

are charged to corporation tax,

are to be charged at a rate determined without reference to sections 18A and 18B (companies with small profits).