Section 357NB — Corporation Tax Act 2010: Profit imputed to Northern Ireland back-office activities

Profit imputed to Northern Ireland back-office activities 357NB 1 To determine for the purposes of section 357NA(3) the Northern Ireland back-office profits of the trade for the accounting period, take the following steps— Step 1 Multiply each Northern Ireland back-office deduction by the relevant percentage. Step 2 Add together each amount calculated under step 1.

2 In subsection (1)— “ Northern Ireland back-office deduction ” means a deduction—

to which the company is entitled in calculating the profits of the trade for the period, and which is in respect of back-office activities carried on in Northern Ireland; “ the relevant percentage ” means 5%.

3 The Treasury may by regulations amend subsection (2) so as to substitute a different percentage for the percentage for the time being specified there.

4 Regulations under this section—

a may make different provision for different purposes (including, in particular, different trades or different back-office activities);

b may make incidental, supplemental, consequential and transitional provision and savings.