Policy paper
Tonnage tax elections to include third party ship managers
This measure is about extending the scope of Tonnage Tax to include elections into the regime by third party ship managers.
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At present only ship operators 鈥� defined as owners and charterers of ships 鈥� can elect into and benefit from the tonnage tax regime. This measure extends its scope to companies and groups who provide ship management services, potentially including technical, crew and safety management.
Tonnage tax is a form of Corporation Tax calculated on the capacity of ships in the regime, rather than on profits, and is usually beneficial.
Updates to this page
Published 18 July 2023
Last updated 22 November 2023
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Updated to reflect changes following the Office for Budget Responsibility November 2023 forecast.
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First published.