The Real Estate Investment Trusts (Financial Statements of Group Real Estate Investment Trusts) Regulations 2006
Part 4 of the Finance Act 2006 (c. 25) (“Part 4” of “the Act”) contains provisions relating to Real Estate Investment Trusts (“UK-REITs”). A UK-REIT is a company which carries on property rental business, and satisfies various requirements set out in the Act: the profits of a property rental business carried on by a UK-REIT are not charged to corporation tax. The Act also contains similar provisions relating to groups of companies (“Group REITs”). Many of those provisions are in Schedule 17 to the Act, which modifies Part 4 in its application to groups.