Section 357H — Corporation Tax Act 2010: Introduction

Introduction 357H 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 “ NI RE ”).

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

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