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|