Version Superseded: 17/07/2014
Point in time view as at 31/01/2013. This version of this provision has been superseded.
Corporation Tax Act 2010, Section 534 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)Profits of property rental business of a UK company which is, or is a member of, a UK REIT are not charged to corporation tax.
(2)Profits of UK property rental business of a non-UK member of a group UK REIT are not charged to corporation tax.
(3)Profits which—
(a)arise from residual business of a UK company which is, or is a member of, a UK REIT, and
(b)are charged to corporation tax,
are to be so charged at a rate determined without reference to sections 18 to 23 (small profits rate and marginal relief).
(4)If a percentage of the profits of property rental business of a member of a group UK REIT is excluded from a financial statement in accordance with section 533(3), that percentage of those profits is to be treated for corporation tax purposes as profits of residual business of the member.
(5)For the purposes of subsections (1) and (2) profits are to be calculated in accordance with section 599.
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