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1.—(1) These Regulations may be cited as the Real Estate Investment Trusts (Assessment and Recovery of Tax) Regulations 2006 and shall come into force on 1st January 2007.
(2) In these Regulations—
(a)“ICTA” means the Income and Corporation Taxes Act 1988(1)
(b)“FA 2006” means the Finance Act 2006;
(c)“TMA 1970” means the Taxes Management Act 1970(2)
(d)“TCGA 1992” means the Taxation of Chargeable Gains Act 1992(3);
(e)a reference to a numbered section or Schedule (without more) is a reference to a section of, or Schedule to, FA 2006 bearing that number;
(3) In these Regulations—
“C (residual)” has the meaning given by section 105(3)(c);
“C (post-cessation)” has the meaning given by section 105(3)(d);
“C (tax-exempt)” has the meaning given by section 105(3)(b);
“G (post-cessation)” has the meaning given by paragraph 2(d) of Schedule 17;
“G (property rental business)” has the meaning given by paragraph 3(2)(b) of that Schedule;
“profits” means income and gains; and
“UK profits” shall be construed in accordance with paragraph 3(2) of Schedule 17.
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