Section 357KA | “Northern Ireland company” F1
From legislation.gov.uk
(1)A company is a “Northern Ireland company” in an accounting period if—F1
(a)the company carries on a qualifying trade in the period, andF1
(b)the SME (Northern Ireland employer) condition, the SME (election) condition or the large company condition is met.F1F2
(2)The “ SME (Northern Ireland employer) condition ” is that the company—F1F3
(a)is an SME in relation to the period, andF1
(b)is a Northern Ireland employer in relation to the period.F1
(2A)The “SME (election) condition” is that—F1F4
(a)the company is an SME in relation to the period,F1F4
(b)the company is not a Northern Ireland employer in relation to the period,F1F4
(c)the company has a NIRE in the period,F1F4
(d)the company is not a disqualified close company in relation to the period, andF1F4
(e)an election by the company for the purposes of this subsection has effect in relation to the period.F1F4
(3)The “large company condition” is that the company—F1
(a)is not an SME in relation to the period, andF1
(b)has a NIRE in the period.F1
(3A)An election for the purposes of subsection (2A)—F1F5
(a)must be made by notice to an officer of Revenue and Customs,F1F5
(b)must specify the accounting period in relation to which it is to have effect (“the specified accounting period”),F1F5
(c)must be made before the end of the period of 12 months beginning with the end of the specified accounting period, andF1F5
(d)if made in accordance with paragraphs (a) to (c) has effect in relation to the specified accounting period.F1F5
“qualifying trade”, see section 357KB;
“SME”, see section 357KC;
“Northern Ireland employer”, see section 357KD;
“disqualified close company”, see section 357KEA;
“NIRE”, see Chapter 5.