# Corporation Tax Act 2010, Section 357OE: The Northern Ireland element of a realisation credit or debit


(1) This section has effect for the purposes of this Chapter.
(2) A realisation credit or realisation debit can have a “Northern Ireland element” only if—
(a) the intangible fixed asset to which it relates has been held by the company, in an accounting period in which it was a Northern Ireland company, wholly or partly for the purposes of a qualifying trade carried on by the company, except so far as the trade consists of an excluded activity, or
(b) in the case of a realisation credit, roll-over relief was previously given in respect of an asset which was so held.
(3) The “Northern Ireland element” of a realisation credit or realisation debit is determined in accordance with section 357OF or 357OG.
(4) “Roll-over relief” means relief under Chapter 7 of Part 8 of CTA 2009 (roll-over relief in case of realisation and reinvestment).

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/357OE (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-357OE
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.