TTM14200 - Exiting tonnage tax: Effects of exiting tonnage tax regime
Exit charge: General
The exit charge only applies where a company, or
group of companies, ceases to be qualifying for reasons relating wholly or
mainly to tax, see TTM14120, or an exclusion for tax avoidance,
see TTM05530. The case should have previously
been submitted to the Tonnage Tax Technical Adviser, see TTM14120.
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.
References
| Guidance | Page |
|---|---|
| Exit charge: chargeable gains | TTM14210 |
| Exit charge: balancing charges | TTM14220 |