Corporation Tax (Northern Ireland) Act 2015
After Part 8A of CTA 2010 insert—
Schedule 1 contains amendments of CAA 2001 in connection with Part 8B of CTA 2010 (as inserted by section 1).
In Schedule 2—
Part 1 contains further amendments in connection with Part 8B of CTA 2010 (as inserted by section 1), and
Part 2 contains consequential amendments.
The Commissioners may by regulations made by statutory instrument make further provision consequential on any provision of this Act.
Regulations under this section—
may make provision amending or modifying any provision of the Taxes Acts (including any provision inserted by this Act),
may make incidental, supplemental, transitional, transitory or saving provision, and
may make different provision for different purposes.
A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.
In this section “the Taxes Acts” has the same meaning as in the Taxes Management Act 1970 (see section 118(1) of that Act).
Part 8B of CTA 2010 (as inserted by section 1) and the amendments made by Schedules 1 and 2 have effect in accordance with this section.
Any power of the Treasury or the Commissioners under Part 8B of CTA 2010, or under the amendments made by Schedules 1 and 2, to make regulations or an order may be exercised on or after the day on which this Act is passed.
The power of the Northern Ireland Assembly under section 357IA of CTA 2010 (power to set Northern Ireland rate) is exercisable in relation to—
such financial year as the Treasury may by regulations made by statutory instrument appoint (“the appointed financial year”), and
subsequent financial years.
The other provisions of Part 8B of CTA 2010 and the amendments made by Schedules 1 and 2 have effect in relation to accounting periods beginning on or after the first day of the appointed financial year (“the commencement day”).
Subsection (6) applies where a company or partnership has an accounting period beginning before the commencement day and ending on or after that day (“the straddling period”).
For the purposes of Part 8B of CTA 2010 and the amendments made by Schedules 1 and 2—
so much of the straddling period as falls before the commencement day, and so much of that period as falls on or after that day, are treated as separate accounting periods, and
any amounts brought into account for the purposes of calculating for corporation tax purposes the profits of any trade of the company or partnership for the straddling period are apportioned to the two separate accounting periods on such basis as is just and reasonable.
Section 1171 of CTA 2010 (orders and regulations) does not apply to the power of the Treasury under subsection (3)(a).
In this Act—
“CAA 2001” means the Capital Allowances Act 2001;
“CAA 2001” means the Capital Allowances Act 2001;
“CTA 2009” means the Corporation Tax Act 2009;
In section 394 (mineral extraction allowances), after subsection (2) insert—
Section 432 (giving effect to allowances and charges) is amended as follows. The existing provision becomes subsection (1) of the section. After that subsection insert—
“CTA 2009” means the Corporation Tax Act 2009;
“CTA 2010” means the Corporation Tax Act 2010;
“CTA 2010” means the Corporation Tax Act 2010;
In this Part of this Schedule “the transition period”, in relation to a company or partnership, means the accounting period of the company or partnership that begins, or is treated by section 5(6) as beginning, on the commencement day. In sub-paragraph (1) “the commencement day” has the meaning given by section 5(4).
“TIOPA 2010” means the Taxation (International and Other Provisions) Act 2010;
“the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs.
“the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs.
This paragraph applies to a company or partnership if— If at the beginning of the transition period— the fact that the NI rate activity begins to be so treated does not give rise to a disposal event within section 61(1)(e) or (f) of that Act. The amount of any unrelieved qualifying expenditure in any main pool falling to be carried forward under section 59 of CAA 2001 to the transition period is to be apportioned on a just and reasonable basis to become— The amount of any unrelieved qualifying expenditure in any special rate pool falling to be carried forward under section 59 of CAA 2001 to the transition period is to be apportioned on a just and reasonable basis to become— Sub-paragraph (6) applies where— The unrelieved qualifying expenditure is to be treated for the purposes of Chapter 16ZA of Part 2 of CAA 2001 as if the allocation to the single asset pool were under section 212ZB of that Act. “Main rate activity” means the qualifying activity to which the qualifying expenditure relates, except so far as it is an NI rate activity. Other expressions used in this paragraph and in Part 2 of CAA 2001 as amended by this Schedule have the same meaning as in that Part.
in the case of a company, the company is a NIRE company or Northern Ireland SME company in the transition period, or
in the case of a partnership, the partnership is a Northern Ireland Chapter 6 firm or a Northern Ireland Chapter 7 firm in the transition period.
Section 360Z (giving effect to allowances and charges: trades) is amended as follows. In subsection (3), for the words from “subject to” onwards substitutesubject to— After that subsection insert—
This Act may be cited as the Corporation Tax (Northern Ireland) Act 2015.
Section 2
CAA 2001 is amended as follows.
After section 6 insert—
Section 12 (expenditure incurred before qualifying activity carried on) is amended as follows. The existing provision becomes subsection (1) of the section. After that subsection insert—
In section 15 (qualifying activities), after subsection (2) insert—
After section 51J insert—
Section 61 (disposal events and disposal values) is amended as follows. In the Table in subsection (2)— After subsection (4) insert—
After section 66A insert—
After section 212 insert—
In section 247 (giving effect to allowances and charges: trades), after subsection (1) insert—
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
After section 439 insert—
Section 450 (giving effect to allowances and charges) is amended as follows. The existing provision becomes subsection (1) of the section. After that subsection insert—
In section 484 (dredging allowances), after subsection (2) insert—
This paragraph applies if— Subsection (3) applies if at the beginning of the transition period— The amount of any unrelieved qualifying expenditure in any pool falling to be carried forward under section 461 of CAA 2001 from the previous chargeable period is to be apportioned on a just and reasonable basis to become— “Main rate activity” means the trade to which the qualifying expenditure relates, except so far as it is an NI rate activity. Other expressions used in this paragraph and in Part 7 of CAA 2001 as amended by this Schedule have the same meaning as in that Part.
in the case of a company, the company is a NIRE company or a Northern Ireland SME company in the transition period, or
in the case of a partnership, the company is a Northern Ireland firm in the transition period.
Section 489 (giving effect to allowances) is amended as follows. The existing provision becomes subsection (1) of the section. After that subsection insert—
the corporate partner calculation (in relation to a trade carried on by a Northern Ireland firm) section 6D(3) NI rate activity section 6C NIRE company section 6A Northern Ireland Chapter 6 firm section 6B(3) Northern Ireland Chapter 7 firm section 6B(4) Northern Ireland firm section 6B(2) Northern Ireland SME company section 6A
Section 3
After section 738 of CTA 2009 insert—
Section 371BC of TIOPA 2010 (charging the CFC charge) is amended as follows. In subsection (3), in the definition of “the appropriate rate”, after “subject to” insert “subsection (4) and”. After subsection (3) insert—
Section 371UD of TIOPA 2010 (relief against sum charged) is amended as follows. After subsection (4) insert— In subsection (7), before the “and” at the end of paragraph (a) insert—.
CTA 2010 is amended as follows.
In section 1(3) (overview), before paragraph (b) insert—.
the accounting period (in Chapter 6 of Part 8B) section 357M(2) the accounting period (in Chapter 7 of Part 8B) section 357N(2) back-office activities (in Part 8B) section 357XI the commencement day (in Chapter 8 of Part 8B) section 357OP the company (in Chapter 6 of Part 8B) section 357M(2) the company (in Chapter 7 of Part 8B) section 357N(2) excluded activity (in Part 8B) Chapter 17 of Part 8B excluded trade (in Part 8B) Chapter 17 of Part 8B exclusive licence (in Chapter 15 of Part 8B) section 357VE firm (in Chapter 16 of Part 8B) section 357W(3) intangible fixed asset (in Chapter 8 of Part 8B) section 357O(2) investment manager (in Chapter 5 of Part 8B) section 1150(1) (applied by section 357LH) investment transaction (in Chapter 5 of Part 8B) section 1150(1) (applied by section 357LH) large company condition (in Part 8B) section 357KA mainstream losses (in Part 8B) sections 357MA and 357NA mainstream profits (in Part 8B) sections 357MA and 357NA mainstream qualifying land remediation loss (in Chapter 10 of Part 8B) section 357QB(3) NIRE (in Part 8B) Chapter 5 of Part 8B Northern Ireland company (in Part 8B) section 357KA Northern Ireland element (in Chapter 8 of Part 8B) section 357OP Northern Ireland employer (in Part 8B) section 357KD Northern Ireland expenditure (in Chapters 9 to 14 of Part 8B) sections 357P(2), 357Q(2), 357R(2), 357S(2), 357T(2) and 357U(2) Northern Ireland firm (in Part 8B) section 357WA Northern Ireland intangibles credits (in Chapter 8 of Part 8B) section 357OP Northern Ireland intangibles debits (in Chapter 8 of Part 8B) section 357OP Northern Ireland losses (in Part 8B) sections 357MA and 357NA Northern Ireland profits (in Part 8B) sections 357MA and 357NA Northern Ireland qualifying Chapter 2 expenditure (in Chapter 9 of Part 8B) section 357P(2) Northern Ireland qualifying Chapter 7 expenditure (in Chapter 9 of Part 8B) section 357P(2) Northern Ireland qualifying land remediation expenditure (in Chapter 10 of Part 8B) section 357Q(2) Northern Ireland qualifying land remediation loss (in Chapter 10 of Part 8B) section 357QB(3) Northern Ireland rate section 357I pre-commencement asset (in Chapter 8 of Part 8B) section 357OP qualifying Chapter 2 expenditure (in Chapter 9 of Part 8B) section 357P(2) qualifying Chapter 7 expenditure (in Chapter 9 of Part 8B) section 357P(2) qualifying expenditure (in Chapter 11 of Part 8B) section 357R(2) qualifying expenditure (in Chapter 12 of Part 8B) section 357S(2) qualifying expenditure (in Chapter 13 of Part 8B) section 357T(2) qualifying expenditure (in Chapter 14 of Part 8B) section 357U(2) qualifying IP right (in Chapter 15 of Part 8B) section 357VE qualifying land remediation expenditure (in Chapter 10 of Part 8B) section 357Q(2) qualifying partnership trade (in Part 8B) section 357WB qualifying trade (in Part 8B) section 357KB realisation credit (in Chapter 8 of Part 8B) section 357OP realisation debit (in Chapter 8 of Part 8B) section 357OP relevant IP profits (in Chapter 15 of Part 8B) section 357VE relevant period (in Chapter 15 of Part 8B) section 357VE roll-over relief (in Chapter 8 of Part 8B) section 357OP the separate film trade (in Chapter 11 of Part 8B) section 357R(2) the separate programme trade (in Chapter 12 of Part 8B) section 357S(2) the separate theatrical trade (in Chapter 14 of Part 8B) section 357U(2) the separate video game trade (in Chapter 13 of Part 8B) section 357T(2) SME (in Part 8B) section 357KC SME condition (in Part 8B) section 357KA trade (in Part 8B) section 357NK the trade (in Chapter 6 of Part 8B) section 357M(2) the trade (in Chapter 7 of Part 8B) section 357N(2)