Section 357OE — Corporation Tax Act 2010: The Northern Ireland element of a realisation credit or debit

The Northern Ireland element of a realisation credit or debit 357OE 1 This section has effect for the purposes of this Chapter.

2 A realisation credit or realisation debit can have a “Northern Ireland element” only if—

a the intangible fixed asset to which it relates has been held by the company, in an accounting period in which it was a Northern Ireland company, wholly or partly for the purposes of a qualifying trade carried on by the company, except so far as the trade consists of an excluded activity, or b in the case of a realisation credit, roll-over relief was previously given in respect of an asset which was so held.

3 The “Northern Ireland element” of a realisation credit or realisation debit is determined in accordance with section 357OF or 357OG. 4 “ Roll-over relief ” means relief under Chapter 7 of Part 8 of CTA 2009 (roll-over relief in case of realisation and reinvestment).