Corporation Tax Act 2010 section 357P

Introduction and interpretation

Section 357P introduces the rules governing how research and development (R&D) tax reliefs apply specifically to Northern Ireland companies, and defines key terms used throughout this chapter.

• This chapter modifies the operation of the R&D expenditure credit and the relief for loss-making, R&D-intensive SMEs when a company qualifies as a Northern Ireland company.
• The rules apply to expenditure incurred by a company in any accounting period during which it holds Northern Ireland company status.
• "Northern Ireland expenditure" means trade expenditure that forms part of the Northern Ireland profits or Northern Ireland losses of that trade.
• "Northern Ireland qualifying Chapter 2 expenditure" is the portion of qualifying Chapter 2 expenditure (as defined in CTA 2009) that falls within the Northern Ireland profits or losses of a trade.