Notify HMRC of a change to a Reserved Investor Fund
Use this service to send a notification of a change to HMRC if you are an agent or organisation.
If there are changes to the Reserved Investor Fund (RIF), you may need to tell HMRC.
What changes you need to tell us about
Operators of a RIF must make notifications required by Part 2 of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (SI 2025/200).
You must tell us when the scheme:
- decides to exit the regime (this is an exit notice)(regulation 22(1))
- breaches one or more of the qualifying conditions and stops being a RIF (regulation 21(1))
- has breached the ownership requirement and no longer expects to rectify the breach within 9 months of it happening (regulation 16(2))
- has breached the restriction requirement and no longer expects to rectify the breach within 9 months of it happening (regulation 18(3))
- has been treating the ownership requirement as met, but no longer expects to meet this requirement in the initial period of 12 months from the date the scheme became a RIF (regulation 9(3))
- has been treating the UK property-rich condition as met, but no longer expects to meet this condition in the initial period of 12 months from the date the scheme became a RIF (regulation 13(3))
- changes the restriction condition that the RIF or a sub-scheme is relying on to meet the restriction requirement (regulation 15(1))
- is an umbrella scheme that establishes a new sub-scheme or winds up an existing sub-scheme (regulation 45(2))
When you need to tell us about a change
You must make a notification within the time limits for each type of change.
This is usually within 30 days of the change happening. In some cases, it’s within 30 days of the scheme operator becoming aware of the change.
You can find out when you need to tell us about each change in section 6 of the tax rules for the Reserved Investor Fund (RIF) — technical note.
What you’ll need
To complete a notification, you’ll need the:
- scheme details, including the scheme operator’s Corporation Tax Unique Taxpayer Reference (if they have one)
- business name and address of the operator
If the scheme is ceasing by giving an exit notice
If the scheme is giving an exit notice you must confirm the:
- date the scheme ceased or will cease to be a RIF
- reason for the decision to cease to be a RIF
If the scheme has breached a qualifying condition and ceases to be a RIF
If the scheme has breached a qualifying condition, you must confirm the:
- condition that is no longer met which will mean the scheme ceases to be a RIF
- date the condition stopped being met
For breaches of the ownership requirement or restriction requirement and where the 9-month ‘cure’ period applies, you must also confirm the date the scheme operator became aware the breach will not be rectified within that period.
For breaches of the exempt investor condition, you’ll also need to provide the date the scheme operator became aware of the breach.
If the scheme will not meet a qualifying condition which was treated as met for the initial period
If the scheme treated the ownership requirement or UK property-rich condition as met in the 12 month initial period of becoming a RIF but no longer expects to meet the condition in that initial period, you must confirm:
- which ownership requirement or UK property-rich condition will not be met
- the date that the scheme operator became aware that it will not be met
If the scheme or a sub-scheme has a change in restriction conditions
If there are changes to the restriction conditions that were relied on to meet the restriction requirement, you must confirm the:
- details of the previous restriction conditions being relied on
- date they stopped or will stop being met
- new restriction conditions being relied on
- date the new conditions were or will be met
Umbrella scheme sub-schemes
If the scheme has established, or intends to establish a sub-scheme, you must confirm:
- the name of the new sub-scheme
- the date the sub-scheme was or will be established
- which restriction conditions the sub-scheme meets
If the scheme has wound-up, or intends to wind-up a sub-scheme, you must confirm the:
- name of the sub-scheme
- date the sub-scheme was or will be wound up
Make a notification of a change
The next 2 bullet points have force of law and constitute a notice under Regulation 39 of the Co-ownership Contractual Schemes (Tax) Regulations 2025:
- from 6 April 2026, you must make a notification about changes listed using the start now link on this page
- if you cannot make a notification using the start now link contact HMRC Collective Investment Scheme Centre
If you are an agent or manager completing the form on behalf of the scheme operator, you’ll need to provide a form 64-8 or a letter of authority, if you have not done so before.
You’ll need to sign in using one of the following:
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sign in details — you can create these if you do not have them
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an email address
You can save your progress and come back later.
What happens next
You’ll get confirmation when you submit your notification.
We will aim to process this within 15 working days.
Get help
You can email cisc.sheffield@hmrc.gov.uk (include ‘RIF’ in the subject line) if you:
- need to update your contact details
- need help completing your notification
- have any RIF related queries
Updates to this page
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The guidance has been updated to advise that notifications must be submitted using the HMRC online form.
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'Make a change notification' section updated to advice from 6 April 2026 you will need to make the change notification online.
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Information on when you need to tell us about a change, what you'll need and how to make a change notification online has been added.
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Added translation