Section 565 — Corporation Tax Act 2010: “The section 565 amount”

“The section 565 amount” 565 1 For the purposes of section 564 “the section 565 amount” is found by subtracting D from P.

2 In the case of a group UK REIT— P is 90% of the group's UK profits (as defined by section 530(2)) arising in the accounting period, and D is the gross amount of those profits distributed in respect of the period within — the deadline set by section 530(1), or any later deadline set by an officer of Revenue and Customs.

3 In the case of a company UK REIT— P is 90% of the company's profits from property rental business arising in the accounting period, and D is the gross amount of those profits distributed in respect of the accounting period within — the deadline set by section 530(4), or any later deadline set by an officer of Revenue of Customs.

4 The definition of “D” in subsections (2) and (3) needs to be read with section 530A (so far as applicable).