Part 12Real Estate Investment Trusts

Chapter 11Part 12: supplementary

Miscellaneous

601Availability of group reliefs

1

In the application of a provision specified in subsection (2) to a group of companies, the group so far as it carries on property rental business while it is a UK REIT is to be treated as a separate group, distinct from—

a

the pre-entry group,

b

the group so far as it carries on residual business while it is a UK REIT, and

c

the post-cessation group.

2

The provisions mentioned in subsection (1) are—

a

section 171 of TCGA 1992 (transfer of assets within group),

b

sections 171A to 171C of TCGA (reallocation of gain or loss within group),

c

sections 179A and 179B of TCGA 1992 (degrouping: reallocation of gain or loss, or rollover of gain, within group),

d

Chapters 4 and 6 to 8 of Part 5 of CTA 2009 (loan relationships),

e

Part 7 of that Act (derivative contracts),

f

Part 8 of that Act (intangible assets), F2...

g

Part 5 of this Act (group relief)F1, and

h

Part 5A of this Act (group relief for carried-forward losses)