Corporation Tax (Northern Ireland) Act 2015

1Trading profits taxable at the Northern Ireland rate

2Capital allowances

3Other amendments

4Power to make further consequential amendments

6Interpretation and short title

SCHEDULE 1Capital allowances

PART 1Introductory

1CAA 2001 is amended as follows.

PART 2Amendments of Part 1 of CAA 2001

2After section 6 insert— CHAPTER 1A Trades attracting Northern Ireland...

PART 3Amendments of Part 2 of CAA 2001: plant and machinery allowances

3(1) Section 12 (expenditure incurred before qualifying activity carried on)...

4In section 15 (qualifying activities), after subsection (2) insert—

5After section 51J insert— Sixth restriction: allocation where profits chargeable...

6(1) Section 61 (disposal events and disposal values) is amended...

7After section 66A insert— Effect of changes in Northern Ireland...

8After section 212 insert— CHAPTER 16ZA Asset provided or used...

9In section 247 (giving effect to allowances and charges: trades),...

10In Schedule A1 (first year tax credits), in paragraph 2,...

PART 4Amendments of CAA 2001 relating to other allowances

Business premises renovation allowances

11(1) Section 360Z (giving effect to allowances and charges: trades)...

Mineral extraction allowances

12In section 394 (mineral extraction allowances), after subsection (2) insert—...

13(1) Section 432 (giving effect to allowances and charges) is...

Research and development

14After section 439 insert— Qualifying expenditure incurred for purposes of...

15(1) Section 450 (giving effect to allowances and charges) is...

Dredging allowances

16In section 484 (dredging allowances), after subsection (2) insert—

17(1) Section 489 (giving effect to allowances) is amended as...

PART 5Consequential amendments

18In Schedule 1 (index of defined expressions) insert at the...

PART 6Transitional provisions

Interpretation

19(1) In this Part of this Schedule “the transition period”,...

Plant and machinery allowances: allocation of unrelieved expenditure to pools

20(1) This paragraph applies to a company or partnership if—...

Know-how allowances: allocation of unrelieved expenditure to pools

21(1) This paragraph applies if— (a) in the case of...

SCHEDULE 2Other amendments

PART 1Further amendments connected with Northern Ireland rate

Realisation of intangible fixed assets

1After section 738 of CTA 2009 insert— Realisation of assets...

Controlled foreign companies

2(1) Section 371BC of TIOPA 2010 (charging the CFC charge)...

3(1) Section 371UD of TIOPA 2010 (relief against sum charged)...

PART 2Consequential amendments

4CTA 2010 is amended as follows.

5In section 1(3) (overview), before paragraph (b) insert—

6In Schedule 4 (index of defined expressions), insert at the...

Royal arms

Corporation Tax (Northern Ireland) Act 2015

2015 CHAPTER 21

An Act to make provision for and in connection with the creation of a Northern Ireland rate of corporation tax.

[26th March 2015]

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—