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Corporation Tax Act 2010

Section 568: Breach of balance of business conditions after accounting period 1

1790.This section sets out how the balance of business conditions in section 531 can be breached in the accounting periods following the first accounting period (“accounting period 1” – see section 609) of the UK REIT without causing the UK REIT regime to terminate. It is based on section 116(1) and (3) of FA 2006.

1791.This section enacts regulation 7B(1) to (3) of SI 2006/2864. See Change 43in Annex 1.

1792.As indicated in section 569, this section is subject to section 572 which allows an officer of Revenue and Customs to issue a notice of termination of the UK REIT regimein some circumstances.

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