Further opportunity to elect: Further window of opportunity 1 July 2005 to 31 December 2006
By means of a Treasury order made on 6 June 2005 (TTM20024) a further window for elections into tonnage tax was allowed. Elections made during the new window will have effect in accordance with the general rule in FA00/SCH22/PARA12(1).
There are a number of exceptions to the general rule:
See TTM02210 for backdating the date of entry
See TTM02220 for deferring the date of entry for one AP
See TTM02230 for deferring the date of entry for two APs
A tonnage tax election made during the new window cannot have effect in relation to an accounting period beginning before 1 January 2005. If the general rule would otherwise produce that effect, the election has effect instead from the beginning of the accounting period following that in which it is made.
|The Tonnage Tax (Further Opportunity for Election) Order 2005 S1 2005 No 1449 TTM20024|