IFM09765 | Administrative requirements: Other notifications: other notifications to HMRC

As part of the requirements of the RIF regime, there are the following different occasions where a RIF operator must make notifications to HMRC:

1. has been treating the ownership requirement as met, but no longer expects to meet this requirement in the initial period of 12 months from the date the scheme became a RIF (Regulation 9(3))

2. has been treating the UK property-rich condition as met, but no longer expects to meet this condition in the initial period of 12 months from the date the scheme became a RIF (Regulation 13(3))

3. changes the restriction condition that the RIF or a sub-scheme is relying on to meet the restriction requirement (Regulation 15(1))

4. has breached the ownership requirement and no longer expects to rectify the breach within 9 months of it happening (Regulation 16(2))

5. has breached the restriction requirement and no longer expects to rectify the breach within 9 months of it happening (Regulation 18(3))

6. breaches one or more of the qualifying conditions and stops being a RIF (Regulation 21(1))

7. decides to exit the regime (this is an exit notice) (Regulation 22(1))

8. is an umbrella scheme that establishes a new sub-scheme or winds up an existing sub-scheme (Regulation 45(2))

HMRC may publish a notice under Regulation 39 specifying the form and manner in which notices, applications and information under Part 2 of the regulations must be given or made to HMRC. HMRC requires the relevant RIF notifications and accounting period information to be submitted electronically. The notice specifying that requirement, and details of how to comply with it, are set out on the relevant GOV.UK page.