Commentary

B2.210 Industrial development grants

Business tax
Business tax | Commentary

B2.210 Industrial development grants

Business tax | Commentary

B2.210 Industrial development grants

The receipt of certain grants will often need to be reflected when calculating the profits of the trade. This will apply if the grant is made under either:

  1.  

    •     Industrial Development Act 1982, ss 7 or 8, or

  2.  

    •     Industrial Development (Northern Ireland) Order 1982 arts 7, 9 or 30

However, no taxable receipt arises if:

  1.  

    •     the grant is designated as being made towards the cost of specified capital expenditure

  2.  

    •     the grant is designated as compensation for the loss of capital assets

  3.  

    •     the grant is for all or part of a corporation tax liability,

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