UK HMRC has published a policy paper concerning changes to the Northern Ireland Corporation Tax (NICT) for small and medium-sized enterprises. The NICT is to be introduced at a rate of 12.5% from April 2018.
Under current rules, large companies with a permanent place of business or dependant agent acting on their behalf in Northern Ireland will be required to allocate their UK trading profits accordingly for the application of the NICT, while SMEs will have all their UK trading profits sub…