Corporation Tax Act 2010 section 357UT

Northern Ireland supplementary deduction

Section 357UT provides the conditions under which a Northern Ireland company involved in a museums and galleries exhibition trade can claim an additional tax deduction known as a "Northern Ireland supplementary deduction" in respect of qualifying expenditure.

• A Northern Ireland company entitled to an additional deduction for its separate exhibition trade may claim a further "Northern Ireland supplementary deduction" if certain conditions are met.
• The supplementary deduction is available where the company has no surrenderable loss, does not claim museums and galleries exhibition tax credit, or where the Northern Ireland losses surrendered are less than the Northern Ireland additional deduction.
• The supplementary deduction is included in calculating the profit or loss of the separate exhibition trade and forms part of the company's Northern Ireland profits or losses.
• The amount of the Northern Ireland supplementary deduction is determined in accordance with section 357UU.