Part 4 ExemptionF1

United Kingdom

1. Exemption for qualifying offshore CIV that is UK property rich etc
2. Qualifying conditions and information provided to HMRC
3. Exemption for direct or indirect disposals of UK land by persons in which fund invests
4. Making of election and period for which it has effect
5. Revocation of election
6. Qualifying fund or company ceasing to meet applicable exemption conditions
7. Deemed disposal: payments not otherwise taxable where value derived from direct or indirect disposals of UK land
8. Deemed disposal if election ceases to have effect
9. Gains accruing on disposals under paragraph 21 or 22
10. Relief for expenses in the case of deemed disposals under paragraph 21 or 22
11. Notification to participants in relation to deemed disposals under paragraph 21 or 22
12. Temporary period during which applicable exemption conditions not met
13. Steps taken by relevant fund manager to wind up relevant fund
14. Deemed disposals of UK land by companies previously owned by fund
15. Deemed disposals of UK land by company or fund ceasing to be qualifying etc
16. Exemption for disposals by companies wholly owned by certain investors
17. Disapplication of paragraphs 5 and 6 of Schedule 1A
18. Disapplication of paragraph 3A of Schedule 7AC: qualifying institutional investors
19. Relationship between rules in this Part and REIT rules in Part 12 of CTA 2010
20. Separate application of exemptions under this Schedule and elsewhere
21. Meaning of meeting “the applicable exemption conditions”
22. Meaning of “the relevant fund” and “the relevant fund manager”
23. Meaning of “wholly owned” or “wholly (or almost wholly) owned”
24. Meaning of “designated HMRC officer”