TTM06060 - Relevant shipping profits: Core qualifying activities

Examples

The following will be ‘core qualifying activities’ if carried on by a tonnage tax company in respect of ships that it operates:
 

  • sale of tickets to passengers or booking of cargo
  • management of the company’s own ships, for example, route planning and fuel purchases
  • arrangement of time or voyage charters
  • the transport element of profits from cable laying and diving support services
  • provision of food and drink for cruise passengers
  • maintenance of cargo, for example, provision of refrigerated storage facilities
  • day to day maintenance of ships
  • fulfilment of legal and insurance requirements in respect of the ship
  • staff administration of ship’s crew
  • activities involved in the acquisition or disposal of ships

This list is not exhaustive.

Reference

Core qualifying activities TTM06050