Chargeable gains: Time apportionment
Disposals by non-tonnage tax companies
The time apportionment rules described in TTM08200 will also apply to a disposal by a non-tonnage tax company of an asset, which has previously been a tonnage tax asset within the same group for capital gains tax purposes.
- A company which has used the asset as a tonnage tax asset may have left the regime before it disposed of the asset in question
- A non-tonnage tax company making the disposal may have acquired the asset on a no gain/no loss transfer from a fellow group member, which had used it as a tonnage tax asset.