Exiting tonnage tax: Effects of exiting tonnage tax regime
Exit charge: GeneralThe exit charge only applies where a company, or group of companies, ceases to be qualifying for reasons relating wholly or mainly to tax (see
The charge consists of re-instating chargeable gains and balancing charges on the tonnage tax company, if a singleton company, or on all tonnage companies in the group, if a tonnage tax group.
|FA00/SCH22/PARA137 (company ceases to be tonnage tax company)||TTM17761|
|Exit charge: chargeable gains||TTM14210|
|Exit charge: balancing charges||TTM14220|