Elections into Tonnage Tax
As set out in TTM02001, a tonnage tax election has to be made on a group-wide basis. All qualifying activities carried on by a company, or group of companies, must be brought within the tonnage tax ring-fence – including any carried on through a corporate partnership.
If a company or group only carries on qualifying activities through a corporate partnership (or, indeed, through more than one corporate partnership), it may still elect into tonnage tax.
|FA00/SCH22/PARA1(2) (all companies in a group must join election)||TTM17001|
|FA00/SCH22/PARA7 onwards (elections)||TTM17031|
|SI00/2303/REG9 (partner as qualifying company)||TTM18009|