Tonnage tax elections: How to elect?
Company or group election
A tonnage tax election may be made by
a qualifying single company (a ‘company election’), or
a qualifying group (a ‘group election’).
A group election must be made jointly by all the qualifying companies in the group. (See TTM12010 on the extended definition of ‘group’ for tonnage tax purposes.)
Once made a group election applies to all the qualifying companies in a group.
|FA00/SCH22/PARA7 (group or company election)||TTM17031|
|FA00/SCH22/PARA9_(2) (group election to be made jointly)||TTM17041|
|Form of election||TTM02110|