Section 357WBC — Corporation Tax Act 2010: “Disqualified firm”

“Disqualified firm” 357WBC 1 For the purposes of this Chapter, a firm is a “ disqualified firm ” in relation to a period if conditions A and B are met.

2 Condition A is that the firm has a NI RE in the period as a result of tax-avoidance arrangements.

3 Condition B is that—

a 50% or more of the working time that is spent in the United Kingdom during the period by members of the firm's workforce is working time spent by partners otherwise than in Northern Ireland, or b 50% or more of the firm's workforce expenses that are attributable to working time spent in the United Kingdom during the period by members of the firm's workforce are attributable to working time spent by partners otherwise than in Northern Ireland.

4 For the purposes of this section “ tax avoidance arrangements ” means arrangements the sole or main purpose of which is to secure that any profits or losses of the firm for the period are Northern Ireland profits or losses.

5 In subsection (4) “ arrangements ” includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable).

6 The following provisions apply for the purposes of this section as they apply for the purposes of section 357WBA (Northern Ireland workforce partnership conditions)—

a subsections (2) to (5) of that section;

b regulations made under that section;

c section 357WBB.