The Co-ownership Contractual Schemes (Tax) Regulations 2025
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3 Timing: becoming a RIF
(1) Where a co-ownership scheme meets, or is treated as meeting, the qualifying conditions on the date specified in the entry notice, the scheme is a RIF from that date. (2) A co-ownership scheme that is not a scheme to which regulation 28 applies may begin operating as a RIF and will be treated as a RIF for the purposes of these Regulations, providing that— (a) an entry notice is submitted to HMRC by the operator of the scheme within 3 months of the day on which the scheme began to operate as a RIF, and (b) subject to any declaration the operator of the scheme intends to make under regulation 9 or 13, the scheme meets the qualifying conditions on the day it begins to operate as a RIF.
3 Timing: becoming a RIF
(1) Where a co-ownership scheme meets, or is treated as meeting, the qualifying conditions on the date specified in the entry notice, the scheme is a RIF from that date. (2) A co-ownership scheme that is not a scheme to which regulation 28 applies may begin operating as a RIF and will be treated as a RIF for the purposes of these Regulations, providing that— (a) an entry notice is submitted to HMRC by the operator of the scheme within 3 months of the day on which the scheme began to operate as a RIF, and (b) subject to any declaration the operator of the scheme intends to make under regulation 9 or 13, the scheme meets the qualifying conditions on the day it begins to operate as a RIF.
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