CT - Income From Property Flashcards
1
Q
REITs
The two rules?
A
Income and gains on disposals - exempt from CT
Other activities subject to CT as normal
2
Q
Dividends from reits out of exempt income - how are they taxed?
A
Treated as property income in hands of shareholders
3
Q
If shareholder is a company?
A
Uk property income received gross
4
Q
If shareholders an individual?
A
Non savings income paid net of tax
5
Q
Dividend paid out of other profits?
A
Normal dividends
6
Q
Criteria to qualify as a REIT?
A
Uk resident
Stock exchange
Distributes 90% of exempt profits
75% assets investment property
75% income is rentals
