The 75% limit on charters-in: How to calculate
Accounting periods of group companies
Same accounting period
Where all qualifying tonnage tax companies have the same accounting period the calculation will be done in respect of each shared accounting period.
Differing accounting periods
The position is rather more complicated if the companies in a group have different accounting periods. In such a case the test must be satisfied in respect of each period that can be defined by the accounting period of a company in the group. See the examples below.
|Example 1: Deferment of election if test failed||TTM05220|
|Example 2: Possible exclusion for exceeding limit over 2-year period||TTM05230|