F1PART 8BTrading profits taxable at the Northern Ireland rate
CHAPTER 3Northern Ireland rate applied to Northern Ireland profits and losses
Transfers of trade without a change of ownership: Chapter 1 of Part 22
357JITransfers of trade without a change of ownership
(1)
This section applies where—
(a)
Chapter 1 of Part 22 (transfers of trade without a change of ownership) applies to the transfer of a trade, and
(b)
a loss made by the predecessor in the transferred trade is a Northern Ireland loss or a mainstream loss.
(2)
F2Sections 943A to 944C (which modify the application of Chapter 2 of Part 4) have effect as if the references in those sections to a loss made by the predecessor in the transferred trade were to the Northern Ireland loss or mainstream loss.