# Finance Act 2013, Paragraph 4


(1) Section 531 (conditions as to balance of business) is amended as follows.
(2) After subsection (4) insert—
“(4A) In the case of a group, for the purposes of subsections (1) and (2) a distribution falling within section 549A(6) or (8) received by a member of the group is to be treated as profits of a property rental business in accordance with section 549A(1) notwithstanding section 549A(5).
(4B) In the case of a company, for the purposes of subsections (1) and (3) a distribution falling within section 549A(6) or (8) received by the company is to be treated as profits of a property rental business in accordance with section 549A(1) notwithstanding section 549A(5).”
(3) In subsection (5)(b) after “cash” insert “ or relevant UK REIT shares ”.
(4) In subsection (6)(b) after “cash” insert “ and relevant UK REIT shares ”.
(5) After subsection (8) insert—
“(9) In this section “relevant UK REIT shares” means—
(a) in the case of a group UK REIT, shares held by a member of the group in the principal company of another group UK REIT or in a company UK REIT, and
(b) in the case of a company UK REIT, shares held by the company in the principal company of a group UK REIT or in another company UK REIT.”

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/19/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-19/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.