Corporation Tax Act 2010 section 357NK

Trade includes office

Section 357NK clarifies that, for the purposes of the Northern Ireland corporation tax provisions in Part 8B, the term "trade" is broad enough to encompass an office, and that carrying on a trade includes holding an office.

• Throughout Part 8B, any reference to a "trade" should be read as also including an office.
• Any reference to "carrying on a trade" should be read as also including holding an office.
• This ensures that officeholders are brought within the same framework as those carrying on a trade for Northern Ireland corporation tax purposes.
• This broad interpretation applies unless the context of a particular provision clearly requires otherwise.