{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-357VA",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-357VA.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/357VA",
  "kind": "section",
  "number": "357VA",
  "heading": "Modification of section 357A",
  "text": "(1) Section 357A(2) has effect as if the reference to allowing a deduction to be made in calculating for corporation tax purposes the profits of the trade for the period were a reference to allowing a mainstream deduction and a Northern Ireland deduction to be made in accordance with this section.\n(2) The mainstream deduction is to be calculated in accordance with section 357A(3), but as if in the formula in that provision “RP” referred to the relevant mainstream IP profits of the trade.\n(3) The relevant mainstream IP profits of the trade are so much of the relevant IP profits of the trade of the company as are not by virtue of section 357VB or 357VC relevant Northern Ireland IP profits of the trade.\n(4) The amount of the Northern Ireland deduction is—\nRNIP×(NIR−IPRNIR)where—\nRNIP is the relevant Northern Ireland IP profits of the company, as determined under section 357VB or 357VC,\nNIR is the Northern Ireland rate of corporation tax, and\nIPR is the special IP rate of corporation tax specified in section 357A(4).\n(5) The Northern Ireland deduction is allowed only if in the relevant period, or part of the relevant period, the Northern Ireland rate is higher than the special IP rate of corporation tax.\n(6) The mainstream deduction—\n(a) is made in calculating for corporation tax purposes the profits of the trade for the period, and\n(b) is treated as forming part of the mainstream profits or mainstream losses of the trade.\n(7) The Northern Ireland deduction—\n(a) is made in calculating for corporation tax purposes the profits of the trade for the period, and\n(b) is treated as forming part of the Northern Ireland profits or Northern Ireland losses of the trade.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/357VA",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}