On 26 March 2015, the Corporation Tax (Northern Ireland) Act 2015 received Royal Assent following passage by both Houses. The law provides for the devolution of tax powers to the Northern Ireland Assembly to set a different rate of corporation tax from the rest of the UK. Power over the corporation tax base, including reliefs and allowances, will remain with the UK Parliament.
The rate, in general, will apply to all of the trading profits of a company if that company is a micro, small or med…