A group may be involved in a joint venture carried on via a company. If there is a Joint Venture Look-Through notice in place (see GREIT13025), then the group (referred to as the venturing group) must include the income, assets etc of the joint venture company in the three sets of financial statements in the same way as it does for the same items for companies that are members of the venturing group (regulation 12 SI 2006/2866).
A single company UK-REIT may be involved in a joint venture
carried on via a company. If there is a Joint Venture Look-Through
notice in place (see
GREIT13025), then the company
(referred to as the venturing company) is obliged to prepare three
sets of financial statements equivalent to those required of the
principal company of a Group REIT (regulation 5 SI 2006/2866).
The venturing company must include the income, assets etc of
the joint venture company in the three sets of financial statements
in the same way as the principal company of a Group REIT would deal
with the same items for companies that are members of their group
(regulation 12 SI 2006/2866).
