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HMRC internal manual

Tonnage Tax Manual

Relevant shipping profits: Outline

Meaning of ‘relevant shipping profits’

A company’s ‘relevant shipping profits’ consist of

  • its ‘relevant shipping income’ (see TTM06020onwards), and
  • any chargeable gains which would arise under the normal CGT rules, but which are excluded from the charge to tax by the provisions of FA00/SCH22/PART8 (see TTM08001onwards).


FA00/SCH22/PARA44 (relevant shipping profits) TTM17261
FA00/SCH22/PARA64 (chargeable gains: tonnage tax assets) TTM17361