Taxes Consolidation Act 1997 section 705E

Notice to become a real estate investment trust

Section 705E sets out the notification requirements that must be met before a company or group can become a REIT or group REIT.

• A company or the principal company of a group must give written notice to Revenue of its intention to become a REIT or group REIT.
• The notice must specify the effective date (not earlier than 1 January 2013 or the date of the notice) and, for a group REIT, must list all members of the group.
• When a new company joins a REIT group, the principal company must submit an amended notice to Revenue within 30 days, confirming all group REIT conditions are expected to be met.
• Failure to submit the amended notice for a new group member results in the group being deemed to have ceased to be a group REIT.