Corporation Tax Act 2010 section 357US

Northern Ireland additional deduction

Section 357US defines what counts as a Northern Ireland additional deduction for museums and galleries exhibition tax relief and confirms that it feeds into the Northern Ireland profit or loss calculation for the exhibition trade.

• A Northern Ireland additional deduction is the portion of an exhibition tax relief additional deduction that relates to qualifying expenditure classified as Northern Ireland expenditure.
• The additional deduction in question is the one available under the museums and galleries exhibition tax relief rules in CTA 2009.
• Only the part of the deduction calculated by reference to Northern Ireland expenditure qualifies — any non-Northern Ireland expenditure element is excluded.
• The Northern Ireland additional deduction is included in the Northern Ireland profits or Northern Ireland losses of the separate exhibition trade.