Section 357UM — Corporation Tax Act 2010: Northern Ireland supplementary deduction: amount

Northern Ireland supplementary deduction: amount 357UM 1 This section contains provision for the purposes of section 357UL(2) about the amount of the Northern Ireland supplementary deduction.

2 If the accounting period falls within only one financial year, the amount of the Northern Ireland supplementary deduction is— ( A − B ) × ( ( MR − NIR ) NIR ) where— A is the amount of the Northern Ireland additional deduction brought into account in the accounting period; B is the amount of Northern Ireland losses surrendered in any claim under section 1217RG of CTA 2009 for the accounting period; MR is the main rate for the financial year; NIR is the Northern Ireland rate for the financial year.

3 If the accounting period falls within more than one financial year, the amount of the Northern Ireland supplementary deduction is determined by taking the following steps. Step 1 Calculate, for each financial year, the amount that would be the Northern Ireland supplementary deduction for the accounting period if it fell within only that financial year (see subsection (2)). Step 2 Multiply each amount calculated under step 1 by the proportion of the accounting period that falls within the financial year for which it is calculated. Step 3 Add together each amount found under step 2.