Corporation Tax Act 2010 section 357UL

Northern Ireland supplementary deduction

Section 357UL provides the conditions under which a Northern Ireland company involved in orchestral concert production can claim an extra tax deduction known as a "Northern Ireland supplementary deduction" in respect of its qualifying expenditure.

• A Northern Ireland company that is entitled to an additional deduction for its separate orchestral trade may qualify for a further "Northern Ireland supplementary deduction" on its qualifying expenditure.
• The additional deduction must be wholly or partly a Northern Ireland additional deduction, and one of three conditions relating to surrenderable losses must be met.
• The three loss conditions are: the company has no surrenderable loss; it has a surrenderable loss but does not claim orchestra tax credit; or it claims orchestra tax credit but the Northern Ireland losses surrendered are less than the Northern Ireland additional deduction.
• The Northern Ireland supplementary deduction is included in the calculation of the profit or loss of the separate orchestral trade and forms part of the company's Northern Ireland profits or Northern Ireland losses.