Policy paper

Further amendments to the Real Estate Investment Trust regime

This measure makes amendments to the Real Estate Investment Trust (REIT) regime to make it more competitive.

• From: HM Revenue & Customs
• Published: 18 July 2023

Documents

Corporation Tax — amendments to the Real Estate Investment Trust (REIT) regime

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Draft legislation

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Draft legislation (accessible version)

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Explanatory note

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Explanatory note (accessible version)

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Details

As part of the ongoing review of the UK funds regime, this measure will make further changes to enhance the Real Estate Investment Trust (REIT) regime rules. These changes:

• amend the condition that a REIT is not a close company to make sure the rule works as intended
• allow insurance companies to hold group REITs
• amend the profit to financing cost ratio to make sure it works as intended
• amend the rule that deals with the interaction of the REIT rules with the corporate interest restriction rules
• amend the rule that allows a REIT to hold a single property
• amend the rule that exempts gains on the disposal of UK property rich entities

Published 18 July 2023