14(1)Section 357WA (meaning of “Northern Ireland firm”) is amended as follows.U.K.
(2)In subsection (1)(b), for “SME partnership condition” substitute “ SME (Northern Ireland employer) partnership condition, the SME (election) partnership condition ”.
(3)In subsection (2), for “SME partnership condition” substitute “ SME (Northern Ireland employer) partnership condition ”.
(4)After subsection (2) insert—
“(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 NIRE 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.”
(5)After subsection (3) insert—
“(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.”
(6)In subsection (4)—
(a)in the opening words, for “to subsections (2) and (3)” substitute “ in relation to a firm ”;
(b)for paragraph (b) substitute—
“(b)references to the Northern Ireland workforce conditions were to the Northern Ireland workforce partnership conditions (see section 357WBA).”
(7)In subsection (5) omit paragraph (c).