{
  "url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-12",
  "json_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-12.json",
  "legislation": "uksi/2025/200",
  "legislation_title": "The Co-ownership Contractual Schemes (Tax) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025",
  "path": "regulation/12",
  "kind": "regulation",
  "number": "12",
  "heading": "UK property rich condition",
  "text": "(1) A co-ownership scheme meets the UK property rich condition—\n(a) if it is UK property rich for the purposes of Schedule 5AAA to TCGA 1992, and\n(b) if the scheme relies on meeting the non-close condition for the purposes of qualifying as a RIF, it also meets the UK tax condition.\n(2) A co-ownership scheme meets the UK tax condition if, were it a company, it would meet the UK tax condition in paragraph 13(7) of Schedule 5AAA to TCGA 1992, applying those rules as if—\n(a) the scheme were a company, and\n(b) the rights of participants in the scheme were shares in the company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/200/regulation/12",
    "retrieved_at": "2026-10-28T21:20:08.412857+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}