Section 357KA — Corporation Tax Act 2010: “Northern Ireland company”

“Northern Ireland company” 357KA 1 A company is a “Northern Ireland company” in an accounting period if—

a the company carries on a qualifying trade in the period, and b the SME (Northern Ireland employer) condition, the SME (election) condition or the large company condition is met.

2 The “ SME (Northern Ireland employer) condition ” is that the company—

a is an SME in relation to the period, and b is a Northern Ireland employer in relation to the period. 2A The “ SME (election) condition” is that—

a the company is an SME in relation to the period, b the company is not a Northern Ireland employer in relation to the period, c the company has a NI RE in the period, d the company is not a disqualified close company in relation to the period, and e an election by the company for the purposes of this subsection has effect in relation to the period.

3 The “large company condition” is that the company—

a is not an SME in relation to the period, and b has a NI RE in the period. 3A An election for the purposes of subsection (2A)—

a must be made by notice to an officer of Revenue and Customs, b must specify the accounting period in relation to which it is to have effect (“the specified accounting period”),

c must be made before the end of the period of 12 months beginning with the end of the specified accounting period, and d if made in accordance with paragraphs (a) to (c) has effect in relation to the specified accounting period.

4 For the meaning of— “qualifying trade”, see section 357KB; “ SME ”, see section 357KC; “Northern Ireland employer”, see section 357KD; “disqualified close company”, see section 357KEA; “ NI RE ”, see Chapter 5.