Introduction Overview Chapter 9: Leaving the UK REIT regime Section 573: Notice under section 572: tax advantage
1799.This section provides that if, during a ten year period, two notices have been given under section 545 (cancellation of tax advantage), an officer of Revenue and Customs may give a notice under section 572 terminating the UK REIT regime. It is based on sections 129(2) and 134(1) of FA 2006.
1800.Subsection (1) requires the notice to be given by an “officer of Revenue and Customs” rather than by “the Commissioners for Her Majesty’s Revenue and Customs”. See Change 5 in Annex 1.
1801.Subsections (2) to (4) enact regulation 14 of SI 2006/2864. See Change 43in Annex 1.