Section 550 Attribution of distributions

distributions made by the principal company of a group UK REIT, and

distributions made by a company UK REIT.

first, to distributions in satisfaction of the requirement of section 530(1)(a) or 530(4)(a) (as the case may be),

second, to distributions in satisfaction of the requirement of section 530(1)(b) or 530(4)(b) (as the case may be),

F2third , so far as the company determines, to distribution of amounts which derive from activities of a kind in respect of which corporation tax is chargeable in relation to income,

F3fourth , to distribution of profits of property rental business (calculated in accordance with section 599),

F4fifth , to distribution of relevant non-chargeable gains, and

F5sixth , to other distributions.

in the case of a group, gains accruing to property rental business of a member of the group, and

in the case of a company, gains accruing to property rental business of the company,