Part 1 Amendments Relating to Smes
Finance (No 2) Act 2017 (2017 c 32) | Legislation

SCHEDULE 7 Trading Profits Taxable at the Northern Ireland Rate

Section 25

Part 1 Amendments Relating to Smes

Amendments of CTA 2010

1

CTA 2010 is amended as follows.

2

(1)     Section 357H (introduction) is amended as follows.

(2)     In subsection (5)—

(a)     after “that is an SME†insert “and is a Northern Ireland employerâ€;

(b)     for “that is not an SME†substitute “that—

(a)     is an SME that is not a Northern Ireland employer and has made the requisite election, or

(b)     is not an SME.â€

3

(1)     Section 357KA (meaning of “Northern Ireland companyâ€) is amended as follows.

(2)     In subsection (1)(b), for “the SME condition†substitute “the SME (Northern Ireland employer) condition, the SME (election) conditionâ€.

(3)     In subsection (2), for “SME condition†substitute “SME (Northern Ireland employer) conditionâ€.

(4)     After subsection (2) insert—

“(2A)     The “SME (election) condition†is that—

(a)     the company is an SME in relation to the period,

(b)     the company is not a Northern Ireland employer in relation to the period,

(c)     the company has a NIRE in the period,

(d)     the company is not a disqualified close company in relation to

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