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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Tonnage Tax: shipping companies subject to tonnage tax

FA2000/SCH22 introduced an alternative method for calculating the corporation tax profits of shipping companies (“Tonnage Tax”). If a company is within this regime, certain assets are outside the scope of the capital gains legislation. Detailed instructions can be found in the Tonnage Tax Manual at TTM08001.