Exiting tonnage tax: Types of exit
Ceasing to be a qualifying company or groupA company will cease to be qualifying if it:
- ceases to be within the charge to corporation tax (FA00/SCH22/PARA16 (1)(a)), or
- ceases to operate qualifying ships (PARA16 (1)(b)), or
- its ships cease to be strategically and commercially managed in UK (PARA16 (1)(c))A group will cease to qualify if none of its companies qualify.
The relevant date for cessation will be the day the company or group ceased to qualify.
|FA00/SCH22/PARA16 (qualifying companies and groups)||TTM17086|