IFM26035 - Real Estate Investment Trust : Leaving the regime: early exit: CTA2010/S571
If an exiting company has been a UK-REIT or member of a Group REIT for less than ten years, the timing/ consequences of leaving may be different. If the company gives notice under CTA2010/S571 to leave the regime, then the tax treatment of property rental business assets sold within two years of leaving may be affected (see IFM26040).
If the termination was by HMRC giving notice under CTA2010/S572, or automatic under CTA2010/S578 as a result of breaching conditions for company A, B, E or F of CTA2010/S528, then the timing of leaving the regime and the tax consequences thereof can be altered by direction of HMRC (see IFM26045).