Section 1112J | Chapter 2 relief for Northern Ireland companies ^F1

(1)This section applies for the purpose of determining the entitlement of a Northern Ireland company to relief under Chapter 2.^F1

(2)A Northern Ireland company is entitled to additional relief under Chapter 2 only to the extent that the additional relief would be exempted from notification under Article 108(3) of the TFEU by a de minimis aid regulation listed in paragraph 3.4 of Annex 5 to the Windsor Framework (as amended or replaced from time to time).^F1

(3)In subsection (2), “additional relief” means the difference between the value of the relief claimed by the company under Chapter 2 in respect of expenditure and the value of the relief that could have been obtained by the company under Chapter 1A in respect of that expenditure.^F1

(4)This section does not apply to a company in relation to an accounting period if the company—^F1

(a)has not, at any time during the accounting period, carried on a trade involving—^F1

(i)trade in goods, or^F1

(ii)the generation, transmission, distribution, supply, wholesale trade or cross-border exchange of electricity, and^F1

(b)has notified an officer of Revenue and Customs in writing that it wishes to rely on the exception in this subsection.^F1

(5)In this section—^F1

“Northern Ireland company” means a company whose registered office is in Northern Ireland;

“TFEU” means the Treaty on the Functioning of the European Union as it has effect by virtue of Article 10 of the Windsor Framework;

“Windsor Framework” means the part of the EU withdrawal agreement known as the Windsor Framework by virtue of Joint Declaration No. 1/2023 of 24th March 2023 made by the European Union and the United Kingdom in the Joint Committee established by the EU withdrawal agreement.