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HMRC internal manual

Tonnage Tax Manual

HM Revenue & Customs
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Capital allowances: During tonnage tax (P&M)

Change of use of tonnage tax asset: General

A company may start to use an asset, previously wholly used in its tonnage tax trade, wholly or partly for another purpose whilst the company is still within tonnage tax.

In such a case, the capital allowances consequences depend on whether or not the asset in question was acquired before the company entered tonnage tax, and thus whether or not any expenditure in respect of that asset went into the tonnage tax pool.

See TTM09120 for assets acquired before entry.

See TTM09130 for assets acquired after entry.


FA00/SCH22/PARA75 (change of use of tonnage tax asset) TTM17416
Change of use of non-tonnage tax asset TTM09140