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