SCHEDULES

SCHEDULE 7Trading profits taxable at the Northern Ireland rate

PART 1Amendments relating to SMEs

Amendments of CTA 2010

20

1

Section 357WG (application of Part 8A to Northern Ireland firm) is amended as follows.

2

In paragraph (g)—

a

for “SME condition” (in the first place it appears) substitute “ SME (Northern Ireland employer) condition ”;

b

for “SME condition” (in the second place it appears) substitute “ SME (Northern Ireland employer) partnership condition ”.

3

For paragraph (h) substitute—

h

references in section 357VC to—

i

the SME (election) condition in section 357KA were to the SME (election) partnership condition in section 357WA;

ii

the large company condition in section 357KA were to the large partnership condition in section 357WA;

iii

a qualifying trade by virtue of section 357KB(1) were to a qualifying partnership trade by virtue of section 357WB(1).