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3(1)Section 371UD of TIOPA 2010 (relief against sum charged) is amended as follows.
(2)After subsection (4) insert—
“(4A)But if, in a case within subsection (7)(b)(i) or (vi), the relevant allowance is a loss that is for the purposes of Part 8B of CTA 2010 (trading profits taxable at the Northern Ireland rate) a Northern Ireland loss, “the relevant sum” is the sum equal to the appropriate Northern Ireland rate on so much of that relevant allowance as is specified in the claim.”
(3)In subsection (7), before the “and” at the end of paragraph (a) insert—
“(aa)the appropriate Northern Ireland rate” means—
(i)the Northern Ireland rate of corporation tax for the relevant corporation tax accounting period, or
(ii)if different Northern Ireland rates apply in different parts of the relevant corporation tax accounting period, the average rate over the whole of the relevant corporation tax accounting period,”.
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