Corporation Tax Act 2010 section 357QC

Tax credit: amount of tax credit

Section 357QC sets out how the amount of land remediation tax credit is calculated for a Northern Ireland company carrying on a qualifying trade in an accounting period.

• The standard land remediation tax credit calculation under CTA 2009 does not apply to Northern Ireland companies — a special regime applies instead
• Where the company has only a Northern Ireland qualifying land remediation loss, the tax credit equals that loss multiplied by a specially calculated "relevant percentage"
• Where the company has only a mainstream qualifying land remediation loss, the tax credit equals that loss multiplied by the standard percentage used in CTA 2009
• Where the company has both types of loss, the total tax credit is the sum of the two separate calculations — each loss multiplied by its respective percentage