FINANCE BILL: Review of changes to chargeability of trading profits to corporation tax at Northern Ireland rate
‘(1) CTA 2010 is amended as follows.
(2) After section 357WH (Allocation of Northern Ireland profits etc of firm to company), insert—
“357WI  Review of changes to chargeability of trading profits to corporation tax at Northern Ireland rate
(1) As soon as practicable after the completion of the first financial year in respect of which the Northern Ireland rate is set by the Northern Ireland Assembly in accordance with the provisions of section 357IA, the Commissioners for Her Majesty’s Revenue and Customs shall complete a review of the effects of the changes to chargeability of trading profits to corporation tax at the Northern Ireland rate made in Schedule 7 to the Finance (No. 2) Act 2017.
(2) A review under this section shall consider in particular the effect of those changes on the extent to which companies are based in—
(a) Northern Ireland, and
(b) Great Britain.
(3) A review under this section shall also consider the effect of those changes on the extent to which the profits or losses of companies and firms are Northern Ireland profits or losses.
(4) A review under this section shall also consider the effect on employment in—
(a) Northern Ireland, and
(b) Great Britain.
(5) A report of the review under this section shall be laid before the House of Commons within one calendar month of its completion.”” —(Jonathan Reynolds.)