The 75% limit on charters-in: Chartered-in
What is ‘chartered-in’?
For the purposes of the 75% limit a qualifying ship is ‘chartered-in’ if it is chartered to a company
- otherwise than on bareboat charter terms, and
- from a person who is not a qualifying member of the same group
It follows from this definition that all bareboat charters, and charters between tonnage tax companies in the same group, are ignored when applying the 75% test.
For the meaning of ‘on bareboat charter terms’, and the other types of charter which are not to be taken into account, see TTM05110.
For further details of the charters that are to be taken into account, see TTM05120.
|FA00/SCH22/PARA37(2) (meaning of ‘chartered-in’)||TTM17226|
|Meaning of ‘qualifying group’||TTM03010|
|Charters not to be taken into account||TTM05110|
|Charters to be taken into account||TTM05120|