Corporation Tax Act 2010 section 357UB

Northern Ireland supplementary deduction

Section 357UB sets out the conditions under which a Northern Ireland company involved in theatrical production can claim an extra tax deduction — called a "Northern Ireland supplementary deduction" — when calculating the profit or loss of its separate theatrical trade.

• A Northern Ireland company that is entitled to an additional deduction for its separate theatrical trade under the creative industry tax relief rules may qualify for a further "Northern Ireland supplementary deduction"
• The additional deduction must be wholly or partly a Northern Ireland additional deduction, and specific conditions relating to surrenderable losses must be met
• The supplementary deduction is made in calculating the profit or loss of the separate theatrical trade and forms part of the company's Northern Ireland profits or losses
• The amount of the Northern Ireland supplementary deduction is determined under section 357UC