F1PART 8BTrading profits taxable at the Northern Ireland rate
CHAPTER 5Northern Ireland regional establishments
Circumstances where there is no NIRE
357LAAgent of independent status
1
A company is not regarded as having a NIRE by reason of the fact that it carries on business in Northern Ireland through an agent of independent status acting in the ordinary course of the agent's business.
2
Sections 357LC to 357LI apply for the purpose of supplementing subsection (1) in relation to transactions carried out on behalf of a company by a person in Northern Ireland acting as—
a
a broker (section 357LC),
b
an investment manager (sections 357LD to 357LH), or
c
a members' or managing agent at Lloyd's (section 357LI).
357LBAlternative finance arrangements
1
Subsection (2) applies if alternative finance return is paid to a company.
2
The company is not regarded as having a NIRE merely by virtue of anything done for the purposes of the alternative finance arrangements—
a
by the other party to the arrangements, or
b
by any other person acting for the company in relation to the arrangements.
3
In subsection (1) “alternative finance return” means alternative finance return within the application of—
a
section 564I, 564K or 564L(2) or (3) of ITA 2007, or
b
section 511, 512 or 513(2) or (3) of CTA 2009.
4
In subsection (2) the reference to “the alternative finance arrangements” is a reference to the alternative finance arrangements under which the alternative finance return mentioned in subsection (1) is paid.
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1