Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 6 U.K. Research and development allowances

Chapter 2 U.K. Qualifying expenditure

[F1 439AQualifying expenditure incurred for purposes of NI rate activity U.K.

(1) Subsection (2) applies if—

(a) a company that does not have a Northern Ireland regional establishment incurs expenditure for the purposes of a trade,

(b) the activities for the purposes of which the expenditure is incurred would, if the company were a NIRE company, be an NI rate activity treated as a separate trade, and

(c) the company subsequently becomes a NIRE company.

(2) The expenditure is to be treated as incurred on the first day of the first chargeable period in which the company is a NIRE company.

(3) Subsection (4) applies if—

(a) a partnership that does not have a Northern Ireland regional establishment incurs expenditure for the purposes of a trade,

(b) the activities for the purposes of which the expenditure is incurred would, if the partnership were a Northern Ireland Chapter 7 firm, be an NI rate activity treated as a separate trade, and

(c) the partnership subsequently becomes a Northern Ireland Chapter 7 firm.

(4) The expenditure is to be treated as incurred on the first day of the first chargeable period in which the partnership is a Northern Ireland Chapter 7 firm.

(5) In this section “Northern Ireland regional establishment” has the same meaning as in Part 8B of CTA 2010 (see Chapter 5 of that Part as read, in relation to a partnership, with section 357WA(4) of that Act).]

Textual Amendments

F1 S. 439A inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 1 para. 14