Section 357P — Corporation Tax Act 2010: Introduction and interpretation

Introduction and interpretation 357P 1 This Chapter makes provision about the operation of—

a Chapter 1A of Part 13 (R&D expenditure credit),

and b Chapter 2 of that Part (relief for loss-making, R&D-intensive SMEs). c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . in relation to expenditure incurred by a company in an accounting period in which it is a Northern Ireland company.

2 In this Chapter—

a “ Northern Ireland expenditure ” means expenditure incurred in a trade to the extent that the expenditure forms part of the Northern Ireland profits or Northern Ireland losses of the trade;

b “ qualifying Chapter 2 expenditure ” has the same meaning as in Part 13 of CTA 2009 (see section 1051 of that Act);

c “ Northern Ireland qualifying Chapter 2 expenditure ” means so much of any qualifying Chapter 2 expenditure as forms part of the Northern Ireland profits or Northern Ireland losses of a trade;

d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .