Section 357H | Introduction F1
From legislation.gov.uk
(1)This Part is about the Northern Ireland rate of corporation tax and the application of that rate to Northern Ireland profits.F1
(2)Chapter 2 is about how the Northern Ireland rate is determined.F1
(3)Chapter 3—F1
(a)applies the Northern Ireland rate to Northern Ireland profits;F1
(b)makes provision about the operation of certain reliefs for trading losses that are given against profits.F1
(4)Chapters 4 and 5 define expressions used in this Part in connection with the determination of a company's Northern Ireland profits; see—F1
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—F1F2F3
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.F1
(7)Chapters 9 to 15 are about the way in which various credits and reliefs work in relation to Northern Ireland companies; see—F1F4F5
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.F1
(9)Chapter 17—F1
(a)defines “excluded trade” and “excluded activity” (profits of which are not Northern Ireland profits), andF1
(b)contains power to make provision about the meaning of “back-office activities” (profits imputed to which may be Northern Ireland profits).F1