# The Co-ownership Contractual Schemes (Tax) Regulations 2025, Regulation 56: Structures and building allowances


(1) Part 2A of CAA 2001 is amended as follows.
(2) In the italic heading before section 270IC omit “authorised”.
(3) In section 270IC(1) and (4) (co-ownership schemes: carrying on qualifying activity) omit “authorised”.
(4) In section 270ID (co-ownership schemes: election)—
(a) in subsection (1) after “scheme”, in the first place it occurs, insert “, or a converted Reserved Investor Fund (Contractual Scheme),”, and
(b) after subsection (7) insert—
“(7A) In subsection (1)—
(a) a “converted Reserved Investor Fund (Contractual Scheme)” means a Reserved Investor Fund (Contractual Scheme) that was previously a co-ownership authorised contractual scheme, and
(b) the reference to an election having been made under section 262AB in respect of a converted Reserved Investor Fund (Contractual Scheme) is a reference to such an election having been made in respect of the scheme when it was a co-ownership authorised contractual scheme.
(7B) An election under this section in respect of a converted Reserved Investor Fund (Contractual Scheme) is unaffected for so long as the scheme is—
(a) a Reserved Investor Fund (Contractual Scheme),
(b) a co-ownership authorised contractual scheme, or
(c) an unauthorised contractual scheme,
and the application of this Chapter in respect of the scheme is not affected by any change to the nature of the scheme so long as it remains of a type set out in paragraphs (a) to (c).”.
(5) In section 270IE(1) and (4) (co-ownership schemes: calculation of allowance after an election) omit “authorised”.

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Source: https://www.legislation.gov.uk/uksi/2025/200/regulation/56 (the official version)
Page: https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-56
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.