Search Legislation

Corporation Tax (Northern Ireland) Act 2015

Chapter 6

30.Chapter 6 determines which profits and losses of a qualifying trade of a company which is a Northern Ireland company by virtue of the SME condition at section 357KA(2) are Northern Ireland profits or Northern Ireland losses.

31.The Northern Ireland profits and losses of a Northern Ireland SME company are all the profits and losses of a qualifying trade except to the extent that they arise from excluded activities (re-insurance and the exploration or exploitation of UK sector of the continental shelf). The definition of “qualifying trade” covers cases where a company makes a one-off election under section 357KB to bring in profits attributable to the back-office functions of certain trades which would otherwise be excluded trades.

32.Section 357MB sets out how the back-office profits of an excluded trade for which an election under section 357KB has been made are to be determined. The profits are imputed on a percentage mark-up basis. Each back-office deduction is marked up at a rate of 5 per cent.

33.Section 357MB(3) provides a power for the Treasury to vary the rate which is used to arrive at the value of the imputed profits of back-office activities.

Back to top


Print Options


Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.


More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources