Capital Allowances Act 2001 section 6B

"Northern Ireland firm" etc.

Section 6B defines the terms "Northern Ireland firm", "Northern Ireland Chapter 6 firm" and "Northern Ireland Chapter 7 firm" for the purposes of the Capital Allowances Act 2001.

• A "Northern Ireland firm" takes its meaning from the Corporation Tax Act 2010, which sets out specific criteria for partnerships operating in Northern Ireland.
• Where a Northern Ireland firm's profits are determined under the Chapter 6 rules of Part 8B of the Corporation Tax Act 2010, the partnership is classified as a "Northern Ireland Chapter 6 firm" for the purposes to which those rules apply.
• Where a Northern Ireland firm's profits are determined under the Chapter 7 rules of Part 8B of the Corporation Tax Act 2010, the partnership is classified as a "Northern Ireland Chapter 7 firm" for the purposes to which those rules apply.
• These definitions are relevant wherever the Capital Allowances Act 2001 needs to distinguish Northern Ireland partnerships for the purpose of applying the Northern Ireland corporation tax rate.