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HMRC internal manual

Tonnage Tax Manual

Exiting tonnage tax: Types of exit

Exclusion for failing to meet 75 per cent limit on charters-inWhere HMRC has issued a notice excluding the company or group from tonnage tax for failing to meet the 75 per cent test on charters-in, the company or group will cease to be within tonnage tax as from the date specified in the notice (

FA00/SCH22/PARA39).

References

FA00/SCH22/PARA39 (exclusion of company if limit exceeded) TTM17236
   
FA00/SCH22/PARA40 (exclusion of group if limit exceeded) TTM17241
If limit exceeded: Exclusion procedure TTM05330