Exiting tonnage tax: Types of exit
Expiry of election
An election into tonnage tax is for a minimum period of ten years. At the end of that period the company or group will leave tonnage tax. For a company, the date will be ten years from the election first taking effect (FA00/SCH22/PARA13 (1)(a)). For a group, the date will be ten years from the first day the election took effect for any group company (PARA13 (1)(b)).
|FA00/SCH22/PARA13 (period for which election is in force)||TTM17061|
|Period for which election is in force||TTM02500|