UPDATE 1-Treveria warns of tax hit, scraps cashback pledge

* Treveria warns of potential tax liability

* Says liability could have "material adverse effect"

* Shelves plan to return cash to shareholders

LONDON, Nov 11 (Reuters) - Property investment company Treveria (TRVT.L) warned investors on Wednesday that it faced a potential tax liability that could hit cash resources, prompting the group to scrap a plan to return excess cash to shareholders.

The London AIM-listed company said the issue arose from restructuring it undertook following the collapse of Dawnay, Day in 2008 and it was currently seeking clarification from the tax authorities.

Treveria was Dawnay Day Treveria until December last year, when the group appointed a new investment manager, changed its name and cut links with the sprawling Dawnay Day conglomerate.

Treveria said it expects to pay any bill with existing cash resources, forcing the group to scrap a planned 60.3 million euro ($90.4 million) return of surplus cash to shareholders, "until it has a clearer understanding of the amount of the liability, if any, and the likely effect on the company".

"It is unlikely that the position will be clarified with any certainty in the near future," the group added. ($1=.6674 euros) (Reporting by Clara Ferreira-Marques; Editing by Greg Mahlich)