Tonnage tax groups: Group arrangements
A group arrangement will normally cover the following matters:
- Dealing with the HMRC on behalf of group companies in respect of non-statutory business clearances.
- Dealing with the HMRC on behalf of group companies in respect of the tonnage tax election and renewal elections.
- Making notifications on behalf of group companies as to whether or not the 75 per cent limit on chartering-in (set out in FA00/SCH22/PARA37) has been exceeded and making any appeal under PARA43 (against an exclusion from tonnage tax notice).
- Preparing and negotiating with the HMRC calculations required under PARA62 (finance costs).
- Dealing with the HMRC on matters arising under PARA26 (4) (dominant party on a merger) and making an appeal under PARA126 (5) (against HMRC determination).
- Making notifications under PARA129 (duty to notify HMRC of group changes).
- The provision of any other information in relation to the tonnage tax regime, which it would be expedient to be provided on a group-wide basis.
It will not affect the requirement that an election be made jointly by all qualifying companies in a tonnage tax group, or any liability of a particular company under any provision of the Taxes Acts.
|FA00/SCH22/PARA120 (arrangements for dealing with group matters)||TTM17676|
|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|