Revenue Note for Guidance
This section provides for the various ways in which a REIT of group REIT may cease to be so designated.
(1) A REIT or group REIT must give a notice in writing to Revenue if it wishes to cease being a REIT or a group REIT.
(2) A REIT or group REIT will cease to be so designated with effect from the date specified in the notice given under subsection (1).
(3) The date specified in the notice must be on or after the date of the notice – i.e. it cannot be backdated.
(4) The authorised officer may determine that a REIT or group REIT is to be no longer designated as such and issue a notice to that effect.
(5) The effective date will be the date specified in the notice under subsection (4).
(6) Where a notice has been issued to a REIT of group REIT under subsection (4), the REIT or group REIT may appeal by way of notice in writing to the Appeal Commissioners within 30 days after the date of the notice.
Relevant Date: Finance Act 2021