Miscellaneous: indirect ownership of property: summary for single company REITs
This table summarises the treatment for different types of entity by reference to thevarious regime conditions and rules for a single company REIT. For Group REITs, see GREIT09030.
|Entity holding property||Income & gains||Property conditions||Balance of business||Entry Charge|
|Member of TCGA group||Taxable||Ignored||Value of shares /dividends non ring-fence asset /income||Not applicable|
|Company with JVLT notice in place (see GREIT13000)||Arising from qualifying property are tax-exempt||Qualifying property counts||Line-by-line consolidation||Market value of qualifying property|
|AUTs and other non-transparent entities*||Taxable||Ignored||Value of shares /dividends non ring-fence asset /income||Not applicable|
|Transparent entities** owned by UK-REIT itself||Arising from qualifying property are tax-exempt||Unlikely to count||Value of assets held by entity and income arising to entity count||Market value of qualifying property|
|Transparent entities** owned UK-REIT subsidiary||Taxable||Ignored||Property and income included in value of subsidiary||Not applicable|
*includes companies that are not members of the TCGA group, such as OEICs
**including partnerships & overseas unit trusts – for more information onnon-resident unit trusts, see GREIT09040.
For transparent entities, the tax-exempt income and gains arise to C (tax-exempt) and theEntry Charge arises to C (residual).
For a joint venture company with a JVLT notice in place, the Entry Charge is payable bythe joint venture company.