Tax avoidance: Action by HMRC
Reinstatement of chargeable gains and balancing charges
A further effect of being excluded from tonnage tax for tax avoidance is that the exit provisions for reinstatement of chargeable gains and balancing charges within the previous six years of the tonnage tax regime apply.
For the chargeable gains exit charge see TTM14210.
For the balancing charges exit charge see TTM14220.
|FA00/SCH22/PARA138 (exit charge: capital gains)||TTM17766|
|FA00/SCH22/PARA139 (exit charge: balancing charges)||TTM17771|
|Effect of exiting tonnage tax regime||TTM14100|
|Exit charge: General||TTM14200|