Capital Allowances: Entry into tonnage tax (P&M)
Unrelieved qualifying expenditure
For the purpose of calculating the amount to be taken to the tonnage tax (frozen) pool (see TTM09010), ‘unrelieved qualifying expenditure’ means:
- the balance that would otherwise have been carried forward under CAA01/PART2 – i.e. the written down value immediately before the company’s entry into tonnage tax, after effect has been given to capital allowances claims for the final pre-tonnage tax period
- any balance of qualifying expenditure which remains unrelieved by virtue of notice having been given under CAA01/S130 i.e. any outstanding ‘free depreciation’, (see CA25200 onwards).
|FA00/SCH22/PARA69(2) & (4) (tonnage tax pool)||TTM17386|
|Tonnage tax pool||TTM09010|