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HMRC internal manual

Guidance on Real Estate Investment Trusts

Group conditions and rules: Financial Statements: G (property rental business) and G (residual): other entities - table


For an explanation of ‘opaque’ and ‘transparent’ treatment see GREIT12115 and GREIT12120 respectively.

Entity % interest (I) held by Group REIT Financial statement treatment
Members of Group REIT I > 75% Transparent
Corporate joint venture with joint venture look-through election I > 40% Transparent
Other corporate joint ventures I < 75% Opaque
OEICs I > 20% Transparent
  I < 20% Opaque
All other TCGA companies I < 75% Opaque
All other entities including unit trusts & partnerships I > 20% Transparent
I < 20% Opaque