Section 357V | Introductory

(1)This Chapter makes provision about the operation of Part 8A (profits arising from the exploitation of patents etc) in relation to an accounting period in which a company is a Northern Ireland company.

(2)If a company—

(a)has made an election under section 357A (election for special treatment of profits from patents etc) with respect to a trade of the company in relation to an accounting period, and

(b)is a Northern Ireland company in that period,

Part 8A has effect subject to the provisions of this Chapter.

(3)In this Chapter “the relevant period” means the accounting period mentioned in subsection (2).