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HMRC internal manual

Guidance on Real Estate Investment Trusts

HM Revenue & Customs
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Distributions: administration: quarterly returns

The company (principal company in the case of a Group REIT) is required to make a return of the PID payments it has made in a return period (regulation 4 SI 2006/2867). The arrangements for these ‘relevant distributions’ are similar to those for making returns of relevant payments by companies under Part 15 ITA 2007 (detailed procedures for collection etc, of IT on relevant payments are shown at AC4000 onwards). The same form CT61(Z) is used to make returns of relevant distributions, and guidance on that return form is at AC4100.

The return periods are:

  • the accounting period itself if it starts and ends within a quarter
  • the quarters ending on 31 March, 30 June, 30 September and 31 December (quarter days)
  • any shorter period that

    • starts at the beginning of an accounting period and ends with the first quarter day in that accounting period
    • begins immediately after the last quarter day in an accounting period and ends on the last day of the accounting period.

The return must show the amount of PID paid in the period and the amount of tax deducted from the payments.

If the company has made a mistake in a return, they are required to submit an amended return showing the correct information and to pay over any additional tax due - see GREIT08120.