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HMRC internal manual

Tonnage Tax Manual

Schedule 22 Finance Act 2000: contents

 

 

Part I introductory
  1. TTM17001
    Para 1 Tonnage Tax
  2. TTM17006
    Para 2 Tonnage Tax companies and groups
  3. TTM17011
    Para 3 profits of Tonnage Tax company
  4. TTM17016
    Para 4 Tonnage Tax profits - method of calculation
  5. TTM17021
    Para 5 Tonnage Tax profits - calculation in case of joint operation etc
  6. TTM17026
    Para 6 measurement of tonnage of ship
Part II Tonnage Tax elections
  1. TTM17031
    Para 7 company or group election
  2. TTM17036
    Para 8 method of making election
  3. TTM17041
    Para 9 person by whom election to be made
  4. TTM17046
    Para 10 when election may be made
  5. TTM17051
    Para 11 power to provide further opportunities for election
  6. TTM17056
    Para 12 when election takes effect
  7. TTM17061
    Para 13 period for which election in force
  8. TTM17066
    Para 14 effect of election ceasing to be in force
  9. TTM17071
    Para 15 renewal election
  10. TTM17076
    Para 15A withdrawal notices
  11. TTM17081
    Para 15B power to provide further opportunities for withdrawal
Part III qualifying companies and groups
  1. TTM17086
    Para 16 qualifying companies and groups
  2. TTM17091
    Para 17 effect of temporarily ceasing to operate qualifying ships
  3. TTM17096
    Para 18 meaning of operating a ship
  4. TTM17101
    Para 19 qualifying ships
  5. TTM17106
    Para 20 vessels excluded from being qualifying ships
  6. TTM17111
    Para 20A qualifying dredgers and tugs
  7. TTM17116
    Para 21 power to exclude other kinds of vessel
  8. TTM17121
    Para 22 effect of change of use
  9. TTM17126
    Para 22A rule for ships other than dredgers and tugs
  10. TTM17131
    Para 22B meaning of terms used in Paragraph 22A
  11. TTM17136
    Para 22C provisions supplementing Paragraphs 22A and 22B
  12. TTM17141
    Para 22D rule on first operation of qualifying dredger or tug
  13. TTM17146
    Para 22E rule on subsequent re-flagging of qualifying dredger or tug
  14. TTM17151
    Para 22F restrictions where dredger or tug ceases to be qualifying ship
Part IV the training requirement
  1. TTM17156
    Para 23 introduction
  2. TTM17161
    Para 24 the minimum training obligation
  3. TTM17166
    Para 25 meaning of ‘training commitment’
  4. TTM17171
    Para 26 approval of initial training commitment
  5. TTM17176
    Para 27 annual training commitment
  6. TTM17181
    Para 28 supplementary provisions about training commitments
  7. TTM17186
    Para 29 payments in lieu of training
  8. TTM17191
    Para 30 monitoring of compliance with training commitment
  9. TTM17196
    Para 31 higher rate of payment in case of failure to meet training commitment
  10. TTM17201
    Para 32 certificate of non-compliance
  11. TTM17206
    Para 33 certificates of non-compliance - supplementary provisions
  12. TTM17211
    Para 34 disclosure of information
  13. TTM17216
    Para 35 offences
  14. TTM17221
    Para 36 general provisions about regulations
Part V other requirements
  1. TTM17226
    Para 37 the requirement that not more than 75 per cent of fleet tonnage is chartered in
  2. TTM17231
    Para 38 the 75 per cent limit - election not effective if limit exceeded
  3. TTM17236
    Para 39 the 75 per cent limit - exclusion of company if limit exceeded
  4. TTM17241
    Para 40 the 75 per cent limit - exclusion of group if limit exceeded
  5. TTM17246
    Para 41 the requirement not to enter into tax avoidance arrangements
  6. TTM17251
    Para 42 tax avoidance - exclusion from tonnage tax
  7. TTM17256
    Para 43 appeals
  8. TTM17258
    Para 43A compliance with safety standards
Part VI relevant shipping profits
  1. TTM17261
    Para 44 introduction
  2. TTM17266
    Para 45 Tonnage Tax activities
  3. TTM17271
    Para 46 core qualifying activities
  4. TTM17276
    Para 47 qualifying secondary activities
  5. TTM17281
    Para 48 qualifying incidental activities
  6. TTM17286
    Para 49 relevant shipping income - distributions of overseas shipping companies
  7. TTM17291
    Para 50 relevant shipping income - certain interest etc
  8. TTM17296
    Para 51 general exclusion of investment income
Part VII the ring fence
  1. TTM17301
    Para 52 accounting period ends on entry or exit
  2. TTM17306
    Para 53 Tonnage Tax trade
  3. TTM17311
    Para 54 profits of controlled foreign companies
  4. TTM17316
    Para 55 general exclusion of reliefs, deductions and set-offs
  5. TTM17321
    Para 56 exclusion of loss relief
  6. TTM17326
    Para 57 exclusion of relief or set-off against tax liability
  7. TTM17331
    Para 58 transactions not at arm's length - between Tonnage Tax company and another person
  8. TTM17336
    Para 59 transactions not at arm's length - between Tonnage Tax trade and other activities of same company
  9. TTM17341
    Para 60 transactions not at arm's length - duty to give notice
  10. TTM17346
    Para 61 treatment of finance costs - single company
  11. TTM17351
    Para 62 treatment of finance costs - group company
  12. TTM17356
    Para 63 meaning of 'finance costs'
Part VIII chargeable gains and allowable losses on Tonnage Tax assets
  1. TTM17361
    Para 64 chargeable gains - Tonnage Tax assets
  2. TTM17366
    Para 65 chargeable gains - disposal of Tonnage Tax asset
  3. TTM17371
    Para 66 chargeable gains - losses brought forward
  4. TTM17376
    Para 67 chargeable gains - roll-over relief for business assets
Part IX the ring fence - capital allowances
  1. TTM17381
    Para 68 introduction
  2. TTM17386
    Para 69 entry - plant and machinery - assets to be used wholly for Tonnage Tax trade
  3. TTM17391
    Para 70 entry - plant and machinery - assets to be used partly for Tonnage Tax trade
  4. TTM17396
    Para 71 entry - ships acquired and disposed of within twelve months
  5. TTM17401
    Para 72 entry - deferred balancing charge on disposal of ship
  6. TTM17406
    Para 73 during - plant and machinery - new expenditure partly for Tonnage Tax purposes
  7. TTM17411
    Para 74 during - plant and machinery - asset beginning to be used for Tonnage Tax trade
  8. TTM17416
    Para 75 during - plant and machinery - change of use of Tonnage Tax asset
  9. TTM17421
    Para 76 during - plant and machinery - change of use of non-Tonnage Tax asset
  10. TTM17426
    Para 77 during - plant and machinery - disposals
  11. TTM17431
    Para 78 during - plant and machinery - reduction of balancing charges
  12. TTM17436
    Para 79 during - plant and machinery - giving effect to balancing charge
  13. TTM17441
    Para 80 during - plant and machinery - deferment of balancing charge
  14. TTM17446
    Para 81 during - plant and machinery - surrender of unrelieved qualifying expenditure
  15. TTM17451
    Para 82 during - industrial buildings - mixed use
  16. TTM17456
    Para 83 during - industrial buildings - balancing charges
  17. TTM17461
    Para 84 during - industrial buildings - residue of qualifying expenditure
  18. TTM17466
    Para 85 exit - plant and machinery
  19. TTM17471
    Para 86 exit - industrial buildings
  20. TTM17476
    Para 87 meaning of 'not entitled to capital allowances'
  21. TTM17481
    Para 88 interpretation
Part X the ring fence - capital allowances - ship leasing
  1. TTM17486
    Para 89 introduction
  2. TTM17491
    Para 89A quantitative restrictions not to apply to ordinary charters
  3. TTM17496
    Para 90 defeased leasing
  4. TTM17501
    Para 91 defeased leasing - excepted forms of security
  5. TTM17506
    Para 91A long funding leases; conditions for alternative treatment
  6. TTM17511
    Para 91B lease to Tonnage Tax company or group
  7. TTM17516
    Para 91C Tonnage Tax company to operate qualifying ship
  8. TTM17521
    Para 91D Period and rate of sublease of qualifying ship
  9. TTM17526
    Para 91E anti-avoidance
  10. TTM17531
    Para 91F consequences of Paragraph 91A(2) ceasing to have effect
  11. TTM17536
    Para 92 sale and lease-back arrangements
  12. TTM17541
    Para 93 certificates required to support claim by finance lessor
  13. TTM17546
    Para 94 quantitative restrictions on allowances
  14. TTM17551
    Para 95 quantitative restrictions - further provisions as to rate bands, limit and pooling
  15. TTM17556
    Para 96 quantitative restrictions - meaning of 'cost of providing ship'
  16. TTM17561
    Para 97 quantitative restrictions - treatment of disposal proceeds
  17. TTM17566
    Para 98 quantitative restrictions - change of circumstances bringing case within restrictions
  18. TTM17571
    Para 99 quantitative restrictions - change of circumstances taking case out of restrictions
  19. TTM17576
    Para 100 determination of tax written down value, etc
  20. TTM17581
    Para 101 quantitative restrictions - power to alter amounts by regulations
  21. TTM17586
    Para 102 exclusion of leases entered into on or before 23 December 1999
Part XI offshore activities
  1. TTM17591
    Para 103 introduction
  2. TTM17596
    Para 104 meaning of 'offshore activities'
  3. TTM17601
    Para 105 vessels to which special provisions do not apply
  4. TTM17606
    Para 106 treatment of periods of inactivity
  5. TTM17611
    Para 107 profits from offshore activities to be computed according to ordinary rules
  6. TTM17616
    Para 108 application of ring fence provisions
  7. TTM17621
    Para 109 chargeable gains from assets used for offshore activities
  8. TTM17626
    Para 110 capital allowances - general
  9. TTM17631
    Para 111 capital allowances - proportionate reduction of allowances
  10. TTM17636
    Para 112 capital allowances - notional qualifying expenditure - existing assets
  11. TTM17641
    Para 113 capital allowances - notional qualifying expenditure - new assets
  12. TTM17646
    Para 114 the training requirement
  13. TTM17651
    Para 115 interpretation
Part XII groups
  1. TTM17656
    Para 116 meaning of 'group' and 'member of group'
  2. TTM17661
    Para 117 companies treated as controlled by an individual
  3. TTM17666
    Para 118 meaning of 'control'
  4. TTM17671
    Para 119 company not to be treated as member of more than one group
  5. TTM17676
    Para 120 arrangements for dealing with group matters
  6. TTM17681
    Para 121 meaning of 'merger' and 'demerger'
  7. TTM17686
    Para 122 merger - between Tonnage Tax groups or companies
  8. TTM17691
    Para 123 merger - Tonnage Tax group or company and qualifying non-Tonnage Tax group or company
  9. TTM17696
    Para 124 merger - Tonnage Tax group or company and non-qualifying group or company
  10. TTM17701
    Para 125 merger - non-qualifying group or company and qualifying non-Tonnage Tax group or company
  11. TTM17706
    Para 126 meaning of 'dominant party' in relation to merger
  12. TTM17711
    Para 127 demerger - single company
  13. TTM17716
    Para 128 demerger - group
  14. TTM17721
    Para 129 duty to notify Inland Revenue of group changes
Part XIII partnerships
  1. TTM17726
    Para 130 introduction
  2. TTM17731
    Para 131 calculation of partnership profits
  3. TTM17736
    Para 132 qualifying partnerships
  4. TTM17741
    Para 133 ships owned by or chartered to partners
  5. TTM17746
    Para 134 transactions not at arm's length
  6. TTM17751
    Para 135 adjustments for capital allowance purposes
  7. TTM17756
    Para 136 general
Part XIV leaving Tonnage Tax
  1. TTM17761
    Para 137 introduction
  2. TTM17766
    Para 138 exit charge - chargeable gains
  3. TTM17771
    Para 139 exit charge - balancing charges
  4. TTM17776
    Para 140 ten year disqualification from re-entry into Tonnage Tax
  5. TTM17781
    Para 141 second or subsequent application of this Part
Part XV supplementary provisions
  1. TTM17786
    Para 142 meaning of 'ship'
  2. TTM17791
    Para 143 meaning of 'on bareboat charter terms'
  3. TTM17796
    Para 144 meaning of 'associate'
  4. TTM17801
    Para 145 exercise of functions conferred on 'the Inland Revenue'
  5. TTM17806
    Para 146 meaning of 'company' and related expressions
  6. TTM17811
    Para 147 index of defined expressions