{
  "url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-25",
  "json_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-25.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/25",
  "kind": "regulation",
  "number": "25",
  "heading": "Ceasing to be a RIF: deemed disposal of units",
  "text": "(1) At any time that a RIF ceases to be a RIF, each participant in the RIF is deemed, for the purposes of TCGA 1992, to, immediately before that time, have—\n(a) sold their units in the RIF, and\n(b) reacquired those units,\nat their market value at that time.\n(2) But paragraph (1) does not apply to a RIF that meets the restriction condition in regulation 10(2)(a) or (c) and becomes an authorised co-ownership scheme.\n(3) The operator of a RIF must notify each participant in the RIF of any deemed disposal of the participant’s units under paragraph (1).\n(4) Notice under paragraph (3) must be given by the end of the period of 30 days beginning with the later of—\n(a) the day on which the scheme ceases to be a RIF, or\n(b) the day on which a notice is given to the operator of the RIF by HMRC in accordance with regulation 24(1).",
  "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/25",
    "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."
}