F1PART 8BTrading profits taxable at the Northern Ireland rate
CHAPTER 8Intangible fixed assets
Calculating Northern Ireland profits or Northern Ireland losses
357OARules affecting calculation of Northern Ireland profits or losses
(1)
If a company is a Northern Ireland company in an accounting period, this section applies to the debits and credits that are given effect under section 747 of CTA 2009 (intangible fixed assets held for purposes of trade) as receipts or expenses of the company's trade in calculating the profits of the trade.
(2)
The Northern Ireland intangibles credits and Northern Ireland intangibles debits form part of the Northern Ireland profits or Northern Ireland losses of the trade.
(3)
Any other credits or debits to which this section applies form part of the mainstream profits or mainstream losses of the trade.
(4)
For the meaning of “Northern Ireland intangibles credits”, see section 357OB(2)(a) and (3) and 357OC(2).
(5)
For the meaning of “Northern Ireland intangibles debits”, see section 357OB(2)(b) and (4) and 357OC(3).