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HMRC internal manual

Tonnage Tax Manual

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

TTM14120) or an exclusion for tax avoidance (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.


FA00/SCH22/PARA137 (company ceases to be tonnage tax company) TTM17761
Exit charge: chargeable gains TTM14210
Exit charge: balancing charges TTM14220