Capital allowances: Balancing charges (P&M)
Giving effect to balancing charges arising during tonnage tax
A balancing charge is to be brought into account in the corporation tax computation for the period in which it arises, unless a claim to defer the balancing charge is made (see TTM09230).
The balancing charge is treated as if it arose in connection with a non tonnage tax trade carried on by the company, and is made in taxing that trade.
|FA00/SCH22/PARA79 (giving effect to balancing charge)||TTM17436|