Section 357WG | Application of Part 8A to Northern Ireland firm

Chapter 15 (profits arising from the exploitation of patents etc) has effect in relation to a Northern Ireland firm as if—

(a)except in relation to the making of elections under section 357A, references to a company were to the firm,

(b)references to a Northern Ireland company were to a Northern Ireland firm,

(c)references to the trade were to the firm's trade,

(d)the reference in section 357V(2) to an election made by the company were to an election made by a corporate partner as defined by section 357GB(1),

(e)the reference in 357V(2) to Part 8A were to Part 8A so far as relating to the corporate partner which made the election,

(f)references to an accounting period of a company were to an accounting period of the firm,

(g)the reference in section 357VB to the SME (Northern Ireland employer) condition in section 357KA were to the SME (Northern Ireland employer) partnership condition in section 357WA, and

(h)references in section 357VC to—

(i)the SME (election) condition in section 357KA were to the SME (election) partnership condition in section 357WA;

(ii)the large company condition in section 357KA were to the large partnership condition in section 357WA;

(iii)a qualifying trade by virtue of section 357KB(1) were to a qualifying partnership trade by virtue of section 357WB(1).