Section 357WE — Corporation Tax Act 2010: Sections 357WC and 357WD: interpretation

Sections 357WC and 357WD: interpretation 357WE 1 Section 357MA (profits or losses of trade that are Northern Ireland profits or losses etc : SMEs) as applied by section 357WC(4), and the other provisions of Chapter 6 so far as they apply for the purposes of section 357MA as so applied, have effect as if—

a references to the qualifying trade were to the firm's trade;

b references to the company were to the firm;

c references to the accounting period were to the firm's accounting period;

d the reference in section 357MA(1) to a qualifying trade by virtue of section 357KB(1) were to a qualifying partnership trade by virtue of section 357WB(1);

e the reference in section 357MA(3) to a qualifying trade by virtue of section 357KB(2) were to a qualifying partnership trade by virtue of section 357WB(2). 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Section 357NA (profits or losses of trade that are Northern Ireland profits or losses etc : large companies) as applied by section 357WD(4), and the other provisions of Chapter 7 so far as they apply for the purposes of section 357NA as so applied, have effect as if—

a references to the qualifying trade were to the firm's trade;

b references to the company were to the firm;

c references to the accounting period were to the firm's accounting period;

d in section 357NA(1) the reference to a qualifying trade by virtue of section 357KB(1) were to a qualifying partnership trade by virtue of section 357WB(1),

e in section 357NA(3) the reference to a qualifying trade by virtue of section 357KB(2) were to a qualifying partnership trade by virtue of section 357WB(2);

f in section 357NF(5), the reference to a UK resident company were to a UK resident firm.