Section 357WA — Corporation Tax Act 2010: Meaning of “Northern Ireland firm”

Meaning of “Northern Ireland firm” 357WA 1 A firm is a “Northern Ireland firm” in an accounting period of the firm (“the firm's accounting period”) if—

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

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

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

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

3 The “large partnership condition” is that the firm—

a is not an SME in relation to the firm's accounting period, and b has a NI RE in that 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 In their application in relation to a firm , the provisions mentioned in subsection (5) have effect as if—

a references to a company were to a firm, and b references to the Northern Ireland workforce conditions were to the Northern Ireland workforce partnership conditions (see section 357WBA).

5 The provisions are—

a section 357KC (meaning of “ SME ”);

b section 357KD (meaning of “Northern Ireland employer”);

c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Chapter 5 (Northern Ireland regional establishments);

e section 1128 of CTA 2009 (meaning of “externally provided worker”).

6 A reference in this Chapter, in relation to a Northern Ireland firm, to “the firm's trade” is to the trade mentioned in subsection (1).