SCHEDULES

SCHEDULE 16 U.K. Real Estate Investment Trusts: excluded business and income

Part 1 U.K. Classes of business

[F1 3 (1) Letting of property if the property would fall in accordance with generally accepted accounting practice to be described as owner-occupied. U.K.

(2) For the purpose of sub-paragraph (1), no account shall be taken of the fact that a property may fall to be described as owner-occupied by reason only of the provision of services to an occupant who—

(a) is in exclusive occupation of the property, and

(b) is not connected with a member of the group (within the meaning given by section 839 of ICTA).]

Textual Amendments

F1 Sch. 16 para. 3 substituted (6.7.2009) by Real Estate Investment Trusts (Amendment of Schedule 16 to the Finance Act 2006) Regulations 2009 (S.I. 2009/1482), regs. 1, 2