UK Statutory Instrument SI 2025/200 United Kingdom

The Co-ownership Contractual Schemes (Tax) Regulations 2025

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Operator7

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Operator — also bound by 746 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.016 Breach of ownership requirement: opportunity to rectify etc Regulated
  • Notify HMRC and participants of RIF ownership breach outcomesOperator
s.018 Breach of restriction requirement: opportunity to rectify etc Regulated
  • Notify HMRC or participants following a breach of the restriction requirementOperator
s.019 Winding up of a RIF that is UK property rich Regulated
  • Notify participants of deemed disposal of units within 30 daysOperator
s.021 Breach of qualifying conditions: requirement to notify HMRC Regulated
  • Notify HMRC if your RIF breaches qualifying conditionsOperator
s.037 Information to be provided to HMRC Regulated
  • Report RIF participant and tax information to HMRC by the reporting dateOperator
s.045 Umbrella schemes: additional notification requirements Regulated
  • Notify HMRC of sub-scheme wind-ups or new establishments within 30 daysOperator
s.047 Investments in reporting offshore funds Regulated
  • Estimate and adjust excess income from reporting offshore fundsOperator
56 other provisions — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation: Part 2
s.003 Timing: becoming a RIF
s.004 Entry notices: general
s.005 Qualifying conditions
s.006 A UK-based scheme
s.007 Genuine diversity of ownership condition
s.008 Non-close condition
s.009 Ownership requirement treated as met for initial period
s.010 Restriction requirement
s.011 Non-UK property assets condition
s.012 UK property rich condition
s.013 UK property rich condition treated as met for initial period
s.014 Exempt investor condition
s.015 Change in restriction conditions met
s.017 Multiple breaches of ownership requirement within 12 month period
s.020 Causes and timing
s.022 Exit notices
s.023 Relevant declarations in entry notice
s.024 Cessation notice
s.025 Ceasing to be a RIF: deemed disposal of units
s.026 Gains accruing on deemed disposals
s.027 Interpretation of this Chapter
s.028 Land transaction upon unauthorised contractual scheme becoming a RIF
s.029 Application of Part 4 of FA 2003 to a RIF that ceases to be a RIF and becomes an eligible co-ownership scheme
s.030 Land transaction upon RIF or eligible co-ownership scheme becoming unauthorised contractual scheme
s.031 Withdrawal of seeding relief: application to postpone payment of tax where appeal against relevant decisions
s.032 Determination of application under regulation 31 and referral to tribunal
s.033 Beginning and end of accounting period
s.034 Preparation of accounts
s.035 Information to be provided to participants
s.036 Information to be provided to other RIF or authorised co-ownership scheme
s.038 Further information to be provided to HMRC
s.039 Further provision about notices, information and applications
s.040 Penalties for failure to give information or notice
s.041 Umbrella schemes: general
s.042 Umbrella schemes: restriction requirement
s.043 Umbrella schemes: becoming a Reserved Investor Fund (Contractual Scheme)
s.044 Umbrella schemes: ceasing to be a Reserved Investor Fund (Contractual Scheme)
s.046 Interpretation: Chapter 12
s.048 Investments in non-reporting offshore funds: first case
s.049 Investments in non-reporting offshore funds: second case
s.050 Stamp duty reserve tax: exceptions
s.051 Stamp duty: exemptions
s.052 Collective investment schemes
s.053 Property rich collective investment vehicles
s.054 Exemptions for disposals by companies with substantial shareholding
s.055 Plant and machinery allowances
s.056 Structures and building allowances
s.057 Stamp duty land tax: contractual schemes
s.058 Stamp duty land tax: seeding relief
s.059 Seeding relief: amendments to Schedule 7A
s.060 Personal portfolio bonds: the property categories
s.061 Real Estate Investment Trusts
s.062 Amendment of The Co-ownership Authorised Contractual Schemes (Tax) Regulations 2017
s.063 Application to authorised co-ownership schemes

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