Property authorised investment funds (Property AIFs): process and effects of entry into the Property AIF regime: overview of process for entry
This section covers the process for entry into the Property AIF regime.
- The notification process. The notification needs to be made in writing to HMRC by the open-ended investment company (OEIC) confirming to HMRC that all the conditions of entry apply (CTM48822).
- The mechanism to quash this notice if HMRC is not satisfied that all the conditions of entry have been fulfilled (CTM48823).
- The clearance procedure that the OEIC can use to gain certainty from HMRC that it has met the genuine diversity of ownership condition before sending its notification (CTM 48824).
- The relief from stamp duty land tax where an authorised unit trust converts into an OEIC to join the regime (CTM48825).