Paragraph 35 F1
(1)
Nothing in this Part of this Schedule is to exempt so much of any qualifying REIT gain as accrues on a disposal made by a company which is, or is a member of, a UK REIT.
(2)
A chargeable gain is a “qualifying REIT gain” so far as—
(a)
the gain is not a chargeable gain as a result of section 535 or 535A of CTA 2010, and
(b)
the gain is not one falling to be exempted as a result of the application of either of those sections following a notice given under section 586(1) or 587(1) of that Act (venturing group).
(3)
In this paragraph “UK REIT” has the same meaning as in Part 12 of CTA 2010.
Annotations
Textual amendments
- F1
Sch. 5AAA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 21