Finance (No. 2) Act 2017 (c. 32)

SCHEDULES

SCHEDULE 7 U.K. Trading profits taxable at the Northern Ireland rate

PART 2 U.K. Minor amendments

26 U.K. In section 357IA of CTA 2010 (power of Northern Ireland Assembly to set Northern Ireland rate), for “Minister of Finance and Personnel” substitute “ Minister of Finance ”.

27 U.K. In section 357QB(5)(b) of that Act (tax credit: entitlement), for “Chapter 2” substitute “ land remediation ”.

28 (1) Paragraph 2 of Schedule A1 to CAA 2001 (amount of first-year tax credit) is amended as follows. U.K.

(2) For sub-paragraphs (3A) and (4) substitute—

“(4) The Treasury may by regulations amend sub-paragraph (1)—

(a) so as to provide for a different percentage to apply where the surrenderable loss relates to a qualifying activity that is an NI rate activity, or

(b) so as to substitute for any percentage for the time being specified in that sub-paragraph such other percentage as the Treasury thinks fit.”

(3) In sub-paragraph (5), for “An order” substitute “ Regulations ”.

29 U.K. In consequence of paragraph 28, in the Corporation Tax (Northern Ireland) Act 2015, in Schedule 1, omit paragraph 10.