TTM12410 - Tonnage tax groups: Demerger
Effect
Where that group had elected for tonnage tax, any singleton qualifying company, or new group that contains a qualifying company, resulting from a demerger of the original tonnage tax group, remains a tonnage tax company or group. A deemed election continues in force and expires at the same time the original group election would have expired (paragraphs 127 and 128).
References
| FA00/SCH22/PARA121 (meaning of ‘demerger’) | TTM17681 |
| FA00/SCH22/PARA127 (demerger of single company) | TTM17711 |
| FA00/SCH22/PARA128 (demerger of group) | TTM17716 |
| Meaning of demerger | TTM12400 |