The Real Estate Investment Trusts (Amendment of Schedule 16 to the Finance Act 2006) Regulations 2009

• Citation: S.I. 2009/1482
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Real Estate Investment Trusts (Amendment of Schedule 16 to the Finance Act 2006) Regulations 2009 and shall come into force on 6th July 2009.

Section 2 Amendment of Schedule 16 to the Finance Act 2006

In Schedule 16 (excluded business and income) to the Finance Act 2006—

(a) for paragraph 3 substitute—

(3)

(1) Letting of property if the property would fall in accordance with generally accepted accounting practice to be described as owner-occupied.

(2) For the purpose of sub-paragraph (1), no account shall be taken of the fact that a property may fall to be described as owner-occupied by reason only of the provision of services to an occupant who—

(a) is in exclusive occupation of the property, and

(b) is not connected with a member of the group (within the meaning given by section 839 of ICTA ).