Corporation Tax (Northern Ireland) Act 2015

1. Introductory Text

2. 1. Trading profits taxable at the Northern Ireland rate

3. 2. Capital allowances

4. 3. Other amendments

5. 4. Power to make further consequential amendments

6. 5. Commencement

7. 6. Interpretation and short title

8. SCHEDULES

   1. SCHEDULE 1

      Capital allowances

      1. PART 1 Introductory

         1. 1. CAA 2001 is amended as follows.

      2. PART 2 Amendments of Part 1 of CAA 2001

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

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

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

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

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

         4. 6. (1) Section 61 (disposal events and disposal values) is amended...

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

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

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

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

      4. PART 4 Amendments of CAA 2001 relating to other allowances

         1. Business premises renovation allowances

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

         2. Mineral extraction allowances

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

            2. 13. (1) Section 432 (giving effect to allowances and charges) is...

         3. Research and development

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

            2. 15. (1) Section 450 (giving effect to allowances and charges) is...

         4. Dredging allowances

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

            2. 17. (1) Section 489 (giving effect to allowances) is amended as...

      5. PART 5 Consequential amendments

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

      6. PART 6 Transitional provisions

         1. Interpretation

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

         2. Plant and machinery allowances: allocation of unrelieved expenditure to pools

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

         3. Know-how allowances: allocation of unrelieved expenditure to pools

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

   2. SCHEDULE 2

      Other amendments

      1. PART 1 Further amendments connected with Northern Ireland rate

         1. Realisation of intangible fixed assets

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

         2. Controlled foreign companies

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

            2. 3. (1) Section 371UD of TIOPA 2010 (relief against sum charged)...

      2. PART 2 Consequential amendments

         1. 4. CTA 2010 is amended as follows.

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

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