The Co-ownership Contractual Schemes (Tax) Regulations 2025

Information to be provided to HMRC

37.—(1) This regulation sets out the information which the operator of a RIF must provide to HMRC on or before the information reporting date in relation to each accounting period of the RIF.

(2) The operator must provide—

(a) the names and addresses of all the participants in the scheme;

(b) the number and classes of units held in the scheme by each participant at the end of the accounting period;

(c) the amount of income per unit for each class;

(d) any restriction conditions the RIF met during the accounting period.

(3) Where there is a deemed disposal under regulation 15(3), the operator must additionally provide the date of the deemed disposal to HMRC.

(4) Where regulation 16 or 18 applies, the operator must additionally provide—

(a) details of which qualifying condition was breached,

(b) the date on which the breach occurred,

(c) if the breach was rectified, the date on which this occurred, and

(d) the date of any deemed disposal under regulation 16(4) or 18(4).

(5) The operator of a RIF which met, or was treated as meeting, the UK property rich condition for all or any part of the accounting period must additionally provide—

(a) the total value of all disposals of assets made by the RIF at any time when it met the UK property rich condition during the period;

(b) the amount of the total difference between the gains and losses relating to the disposal of those assets computed in accordance with Part 2 of TCGA 1992;

(c) in relation to each participant in the RIF—

(i) the number of units in the RIF that the participant has disposed of during the period;

(ii) if the information is available to the operator, the value of those disposals, and

(iii) if the information is available to the operator, the difference between the gains and losses made by the participant on those disposals computed in accordance with Part 2 of TCGA 1992.

(6) The operator of a RIF which meets the exempt investor condition must additionally provide—

(a) confirmation that all the participants in the RIF are, for that period, exempt from tax on gains (within the meaning of regulation 14), and

(b) confirmation that the operator has taken reasonable steps during the period to monitor their exemption.

(7) Where regulation 19 applies, the operator of a RIF must additionally provide—

(a) confirmation that regulation 19 applies, and

(b) the date on which the winding up period referred to in regulation 19 is expected to end.