PART 8B

Trading profits taxable at the Northern Ireland rate
CHAPTER 16

Northern Ireland profits and losses etc: partnerships

Application of section 747 of CTA 2009 to Northern Ireland firm
357WF
Chapter 8 (intangible fixed assets) has effect in relation to a Northern Ireland firm as if—
a
references to a qualifying trade were to a qualifying partnership trade;
b
references to a company were to a firm;
c
references to an accounting period of a company were to an accounting period of a firm;
d
references to a Northern Ireland company were to a Northern Ireland firm;
e
references to the
SME
(Northern Ireland employer) condition
in section 357KA were to the
SME
(Northern Ireland employer) partnership condition
in section 357WA;
ea
references to the
SME
(election) condition in section 357KA were to the
SME
(election) partnership condition in section 357WA;
f
references to the large company condition in section 357KA were to the large partnership condition in section 357WA;
g
the reference in section 357OB(1)(b) to a qualifying trade by virtue of section 357KB(1) were to a qualifying partnership trade by virtue of section 357WB(1).
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1
S. 357WF(ea) inserted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 19(3)
Words in s. 357WF(e) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 19(2)(a)
Words in s. 357WF(e) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 19(2)(b)