Tonnage tax groups: Group arrangements
You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.
There are advantages for both the taxpayer and HMRC if a tonnage tax group operates under a group arrangement under FA00/SCH22/PARA120). A group arrangement will enable a nominated company to act as a representative of the group. This will reduce the need for administrative correspondence between the HMRC and each individual company in the group, and make some aspects of the legislation much simpler to implement, e.g. the provisions of FA00/SCH22/PARA37 (75 per cent limit) and PARA62 (finance costs).
|FA00/SCH22/PARA120 (arrangements for dealing with group matters)||TTM17676|
|Matters covered by group arrangement||TTM12220|
|Arrangements for dealing with group matters||TTM12230|
|Inspector’s agreement to group arrangement||TTM12240|
|Changes to group arrangement - membership||TTM12250|
|Changes to group arrangement – details covered||TTM12260|