TTM17001 - Schedule 22 Finance Act 2000: Part I introductory - Para 1 Tonnage Tax

FA00/SCH22/PARA1

(1) This Schedule provides an alternative regime (鈥渢onnage tax鈥�) for calculating the profits of a shipping company for the purposes of corporation tax.

(2) The regime applies only if an election to that effect (a 鈥渢onnage tax election鈥�) is made (see Part II of this Schedule).

Companies that are members of a group must join in a group election.

(3) A tonnage tax election may only be made if-

(a) the company or group is a qualifying company or group (see Part III of this Schedule), and

(b) certain requirements are met as to training (see Part IV of this Schedule) and other matters (see Part V of this Schedule).

References

General principles of Tonnage Tax TTM01200
听 听
Outline of Tonnage Tax elections TTM02001

听