Section 357H | Introduction

(1)This Part is about the Northern Ireland rate of corporation tax and the application of that rate to Northern Ireland profits.

(2)Chapter 2 is about how the Northern Ireland rate is determined.

(3)Chapter 3—

(a)applies the Northern Ireland rate to Northern Ireland profits;

(b)makes provision about the operation of certain reliefs for trading losses that are given against profits.

(4)Chapters 4 and 5 define expressions used in this Part in connection with the determination of a company's Northern Ireland profits; see—

Chapter 4 for definitions of “Northern Ireland company”, “qualifying trade”, “SME” and “Northern Ireland employer”;

Chapter 5 for provision about whether a company has a Northern Ireland regional establishment (a “NIRE”).

(5)Chapters 6 and 7 contain rules for determining whether profits or losses of a trade are “Northern Ireland profits” or “Northern Ireland losses”; see—

Chapter 6 for rules applying in the case of a Northern Ireland company that is an SME and is a Northern Ireland employer;

((a))Chapter 7 for rules applying in the case of a Northern Ireland company that—

((a))is an SME that is not a Northern Ireland employer and has made the requisite election, or

((b))is not an SME.

(6)Chapter 8 is about the treatment of intangible fixed assets in relation to Northern Ireland companies.

(7)Chapters 9 to 15 are about the way in which various credits and reliefs work in relation to Northern Ireland companies; see—

Chapter 9 for provision about R&D expenditure credits and relief for expenditure relating to research and development;

Chapter 10 for provision about relief for expenditure relating to the remediation of contaminated or derelict land;

Chapter 11 for provision about film tax relief;

Chapter 12 for provision about television production;

Chapter 13 for provision about video games development;

Chapter 14 for provision about theatrical productions;

Chapter 14A for provision about orchestra tax relief;

Chapter 14B for provision about museums and galleries exhibition tax relief;

Chapter 15 for provision about profits arising from exploitation of patents etc.

(8)Chapter 16 contains rules for determining whether profits or losses of a trade are “Northern Ireland profits” or “Northern Ireland losses” in the case of a company that is a partner in a Northern Ireland firm.

(9)Chapter 17—

(a)defines “excluded trade” and “excluded activity” (profits of which are not Northern Ireland profits), and

(b)contains power to make provision about the meaning of “back-office activities” (profits imputed to which may be Northern Ireland profits).