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HMRC internal manual

Tonnage Tax Manual

From
HM Revenue & Customs
Updated
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Relevant shipping profits: contents

Introduction

This section outlines the profits that are to be regarded as tonnage tax profits. The section gives guidance on activites, trading income, capital gains and distributions. It explains that the profits of some activities are wholly within tonnage tax but profits of some may be limited. It explains how these relevant shipping profits are replaced by tonnage tax profits of a tonnage tax company.

Outline and definitions
  1. TTM06001
    Relevant shipping profits: Outline
  2. TTM06010
    Relevant shipping profits: Outline
  3. TTM06020
    Relevant shipping profits: Relevant shipping income: Outline
  4. TTM06030
    Relevant shipping profits: Outline
  5. TTM06040
    Relevant shipping profits: Outline
Core qualifying activities
  1. TTM06050
    Relevant shipping profits: Core qualifying activities
  2. TTM06060
    Relevant shipping profits: Core qualifying activities
Qualifying secondary activities
  1. TTM06100
    Relevant shipping profits: Qualifying secondary activities
  2. TTM06105
    Relevant shipping profits: Non qualifying secondary activities
  3. TTM06110
    Relevant shipping profits: Wholly qualifying secondary activities
  4. TTM06120
    Relevant shipping profits: Secondary activities qualifying up to set limits
  5. TTM06130
    Relevant shipping profits: Secondary activities qualifying up to set limits
  6. TTM06140
    Relevant shipping profits: Secondary activities qualifying up to set limits
  7. TTM06150
    Relevant shipping profits: Secondary activities qualifying up to set limits
  8. TTM06160
    Relevant shipping profits: Secondary activities qualifying up to set limits
Qualifying incidental activities
  1. TTM06200
    Relevant shipping profits: Qualifying Incidental Activities
Non-qualifying activities
  1. TTM06300
    Relevant shipping profits: Non-qualifying activities
  2. TTM06350
    Relevant shipping profits: Vessels providing transport for services necessarily provided at sea
Distributions from overseas shipping companies
  1. TTM06400
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  2. TTM06410
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  3. TTM06420
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  4. TTM06430
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  5. TTM06440
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  6. TTM06450
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  7. TTM06460
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
  8. TTM06470
    Relevant shipping profits: Distributions from qualifying overseas shipping companies
Investment income etc
  1. TTM06500
    Relevant shipping profits: Exclusion of investment income
  2. TTM06510
    Relevant shipping profits: Relevant shipping income
  3. TTM06520
    Relevant shipping profits: Relevant shipping income
Miscellaneous
  1. TTM06700
    Relevant shipping profits: Merchant adventurers