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HMRC internal manual

Tonnage Tax Manual

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HM Revenue & Customs
Updated
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Schedule 22 Finance Act 2000: contents

 

 

Part I introductory
  1. TTM17001
    Schedule 22 Finance Act 2000: Part I introductory - Para 1 Tonnage Tax
  2. TTM17006
    Schedule 22 Finance Act 2000: Part I introductory - Para 2 Tonnage Tax companies and groups
  3. TTM17011
    Schedule 22 Finance Act 2000: Part I introductory - Para 3 profits of a Tonnage Tax company
  4. TTM17016
    Schedule 22 Finance Act 2000: Part I introductory - Para 4 Tonnage Tax profits - method of calculation
  5. TTM17021
    Schedule 22 Finance Act 2000: Part I introductory - Para 5 Tonnage Tax profits - calculation in case of joint operation etc
  6. TTM17026
    Schedule 22 Finance Act 2000: Part I introductory - Para 6 measurement of tonnage of ship
Part II Tonnage Tax elections
  1. TTM17031
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 7 company or group election
  2. TTM17036
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 8 method of making election
  3. TTM17041
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 9 person by whom election to be made
  4. TTM17046
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 10 when election may be made
  5. TTM17051
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 11 power to provide further opportunities for election
  6. TTM17056
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 12 when election takes effect
  7. TTM17061
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 13 period for which election is in force
  8. TTM17066
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 14 effect of election ceasing to be in force
  9. TTM17071
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 15 renewal election
  10. TTM17076
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 15A withdrawal notices
  11. TTM17081
    Schedule 22 Finance Act 2000: Part II Tonnage Tax elections - Para 15B power to provide further opportunities for withdrawal
Part III qualifying companies and groups
  1. TTM17086
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 16 qualifying companies and groups
  2. TTM17091
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 17 effect of temporarily ceasing to operate qualifying ship
  3. TTM17096
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 18 meaning of operating a ship
  4. TTM17101
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 19 qualifying ships
  5. TTM17106
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 20 vessels excluded from being qualifying ships
  6. TTM17111
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 20A qualifying dredgers and tugs
  7. TTM17116
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 21 power to exclude other kinds of vessel
  8. TTM17121
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22 effect of change of use
  9. TTM17126
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22A flagging - rule for ships other than dredgers and tugs
  10. TTM17131
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22B flagging - meaning of terms used in Paragraph 22A (TTM17126)
  11. TTM17136
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22C flagging - provisions supplementing Paragraphs 22A (TTM17126) and 22B (TTM17131)
  12. TTM17141
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22D flagging - rule on first operation of qualifying dredger or tug
  13. TTM17146
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22E flagging - rule on subsequent re-flagging of qualifying dredger or tug
  14. TTM17151
    Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 22F flagging - restrictions where dredger or tug ceases to be qualifying ship under Paragraph 22E (TTM17146)
Part IV the training requirement
  1. TTM17156
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 23 introduction
  2. TTM17161
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 24 the minimum training obligation
  3. TTM17166
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 25 meaning of ‘training commitment’
  4. TTM17171
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 26 approval of initial training commitment
  5. TTM17176
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 27 annual training commitment
  6. TTM17181
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 28 supplementary provisions about training commitments
  7. TTM17186
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 29 payments in lieu of training
  8. TTM17191
    Part IV the training requirement - Para 30 monitoring of compliance with training commitment
  9. TTM17196
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 31 higher rate of payment in case of failure to meet training commitment
  10. TTM17201
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 32 certificate of non compliance
  11. TTM17206
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 33 certificates of non compliance - supplementary provisions
  12. TTM17211
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 34 disclosure of information
  13. TTM17216
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 35 offences
  14. TTM17221
    Schedule 22 Finance Act 2000: Part IV the training requirement - Para 36 general provisions about regulations
Part V other requirements
  1. TTM17226
    Schedule 22 Finance Act 2000: Part V other requirements - Para 37 the requirement that not more than 75 percent of fleet tonnage is chartered in
  2. TTM17231
    Schedule 22 Finance Act 2000: Part V other requirements - Para 38 the 75 per cent limit - election not effective if limit exceeded
  3. TTM17236
    Schedule 22 Finance Act 2000: Part V other requirements - Para 39 the 75 percent limit - exclusion of company if limit exceeded
  4. TTM17241
    Schedule 22 Finance Act 2000: Part V other requirements - Para 40 the 75 percent limit - exclusion of group if limit exceeded
  5. TTM17246
    Schedule 22 Finance Act 2000: Part V other requirements - Para 41 the requirement not to enter into tax avoidance arrangements
  6. TTM17251
    Schedule 22 Finance Act 2000: Part V other requirements - Para 42 tax avoidance - exclusion from Tonnage Tax
  7. TTM17256
    Schedule 22 Finance Act 2000: Part V other requirements - Para 43 appeals
  8. TTM17258
    Schedule 22 Finance Act 2000: Part V other requirements - Para 43A compliance with safety standards
Part VI relevant shipping profits
  1. TTM17261
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 44 introduction
  2. TTM17266
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 45 Tonnage Tax activities
  3. TTM17271
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 46 core qualifying activities
  4. TTM17276
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 47 qualifying secondary activities
  5. TTM17281
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 48 qualifying incidental activities
  6. TTM17286
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 49 relevant shipping income - distributions of overseas shipping companies
  7. TTM17291
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 50 relevant shipping income - certain interest etc
  8. TTM17296
    Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 51 general exclusion of investment income
Part VII the ring fence
  1. TTM17301
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 52 accounting period ends on entry or exit
  2. TTM17306
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 53 Tonnage Tax trade
  3. TTM17311
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 54 profits of controlled foreign companies
  4. TTM17316
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 55 general exclusion of reliefs, deductions and set-offs
  5. TTM17321
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 56 exclusion of loss relief
  6. TTM17326
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 57 exclusion of relief or set-off against tax liability
  7. TTM17331
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 58 transactions not at arm's length - between Tonnage Tax company and another person
  8. TTM17336
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 59 transactions not at arm's length - between Tonnage Tax trade and other activities of same company
  9. TTM17341
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 60 transactions not at arm's length - duty to give notice
  10. TTM17346
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 61 treatment of finance costs - single company
  11. TTM17351
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 62 treatment of finance costs - group company
  12. TTM17356
    Schedule 22 Finance Act 2000: Part VII the ring fence - Para 63 meaning of ‘finance costs’
Part VIII chargeable gains and allowable losses on Tonnage Tax assets
  1. TTM17361
    Schedule 22 Finance Act 2000: Part VIII chargeable gains and allowable losses on Tonnage Tax assets - Para 64 Tonnage Tax assets
  2. TTM17366
    Schedule 22 Finance Act 2000: Part VIII chargeable gains and allowable losses on Tonnage Tax assets - Para 65 disposal of Tonnage Tax asset
  3. TTM17371
    Schedule 22 Finance Act 2000: Part VIII chargeable gains and allowable losses on Tonnage Tax assets - Para 66 losses brought forward
  4. TTM17376
    Schedule 22 Finance Act 2000: Part VIII chargeable gains and allowable losses on Tonnage Tax assets - Para 67 roll-over relief for business assets
Part IX the ring fence - capital allowances
  1. TTM17381
    Part iX the ring fence - capital allowances - Para 68 introduction
  2. TTM17386
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 69 entry - plant and machinery - assets to be used wholly for Tonnage Tax trade
  3. TTM17391
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 70 entry - plant and machinery - assets to be used partly for Tonnage Tax trade
  4. TTM17396
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 71 entry - ships acquired and disposed of within twelve months
  5. TTM17401
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 72 entry - deferred balancing charge on disposal of ship
  6. TTM17406
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 73 during - plant and machinery - new expenditure partly for Tonnage Tax purposes
  7. TTM17411
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 74 during - plant and machinery - asset beginning to be used for Tonnage Tax trade
  8. TTM17416
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 75 during - plant and machinery - change of use of Tonnage Tax asset
  9. TTM17421
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 76 during - plant and machinery - change of use of non-Tonnage Tax asset
  10. TTM17426
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 77 during - plant and machinery - disposals
  11. TTM17431
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 78 during - plant and machinery - reduction of balancing charges
  12. TTM17436
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 79 during - plant and machinery - giving effect to balancing charge
  13. TTM17441
    Schedule 22 Finance Act 2000: the ring fence - capital allowances - Para 80 during - plant and machinery - deferment of balancing charge
  14. TTM17446
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 81 during - plant and machinery - surrender of unrelieved qualifying expenditure
  15. TTM17451
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 82 during - industrial buildings - mixed use
  16. TTM17456
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 83 during - industrial buildings - balancing charges
  17. TTM17461
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 84 during - industrial buildings - residue of qualifying expenditure
  18. TTM17466
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 85 exit - plant and machinery
  19. TTM17471
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 86 exit - industrial buildings
  20. TTM17476
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 87 meaning of ‘not entitled to capital allowances’
  21. TTM17481
    Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 88 interpretation
Part X the ring fence - capital allowances - ship leasing
  1. TTM17486
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 89 Introduction
  2. TTM17491
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 89A quantitative restrictions not to apply to ordinary charters
  3. TTM17496
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 90 defeased leasing
  4. TTM17501
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91 defeased leasing - excepted forms of security
  5. TTM17506
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91A long funding leases - conditions for alternative treatment
  6. TTM17511
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91B lease to Tonnage Tax company or group
  7. TTM17516
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91C Tonnage Tax company to operate and manage a qualifying ship
  8. TTM17521
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91D period and rate of sublease of qualifying ship
  9. TTM17526
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91E anti-avoidance
  10. TTM17531
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 91F consequences of paragraph 91A(2) (TTM17506) ceasing to have effect
  11. TTM17536
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 92 sale and lease-back arrangements
  12. TTM17541
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 93 certificates required to support claim by finance lessor
  13. TTM17546
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 94 quantitative restrictions on allowances
  14. TTM17551
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 95 quantitative restrictions - further provisions as to rate bands, limit and pooling
  15. TTM17556
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 96 quantitative restrictions - meaning of ‘cost of providing ship’
  16. TTM17561
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 97 quantitative restrictions - treatment of disposal proceeds
  17. TTM17566
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 98 quantitative restrictions - change of circumstances bringing case within restrictions
  18. TTM17571
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 99 quantitative restrictions - change of circumstances taking case out of restrictions
  19. TTM17576
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 100 determination of tax written down value, etc.
  20. TTM17581
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 101 quantitative restrictions - power to alter amounts by regulations
  21. TTM17586
    Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 102 exclusion of leases entered into on or before 23rd December 1999
Part XI offshore activities
  1. TTM17591
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 103 introduction
  2. TTM17596
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 104 meaning of ‘offshore activities’
  3. TTM17601
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 105 vessels to which special provisions do not apply
  4. TTM17606
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 106 treatment of periods of inactivity
  5. TTM17611
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 107 profits from offshore activities to be computed according to ordinary rules
  6. TTM17616
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 108 application of ring fence provisions
  7. TTM17621
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 109 chargeable gains from assets used for offshore activities
  8. TTM17626
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 110 capital allowances - General
  9. TTM17631
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 111 capital allowances - proportionate reduction of allowances
  10. TTM17636
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 112 capital allowances - notional qualifying expenditure - existing assets
  11. TTM17641
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 113 capital allowances - notional qualifying expenditure - new assets
  12. TTM17646
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 114 the training requirement
  13. TTM17651
    Schedule 22 Finance Act 2000: Part XI offshore activities - Para 115 interpretation
Part XII groups
  1. TTM17656
    Schedule 22 Finance Act 2000: Part XII groups - Para 116 meaning of ‘group’ and ‘member of group’
  2. TTM17661
    Schedule 22 Finance Act 2000: Part XII groups - Para 117 companies treated as controlled by an individual
  3. TTM17666
    Schedule 22 Finance Act 2000: Part XII groups - Para 118 meaning of ‘control’
  4. TTM17671
    Schedule 22 Finance Act 2000: Part XII groups - Para 119 company not to be treated as member of more than one group
  5. TTM17676
    Schedule 22 Finance Act 2000: Part XII groups - Para 120 arrangements for dealing with group matters
  6. TTM17681
    Schedule 22 Finance Act 2000: Part XII groups - Para 121 meaning of ‘merger’ and ‘demerger’
  7. TTM17686
    Schedule 22 Finance Act 2000: Part XII groups - Para 122 merger between Tonnage Tax groups or companies
  8. TTM17691
    Schedule 22 Finance Act 2000: Part XII groups - Para 123 merger - Tonnage Tax group or company and qualifying non-Tonnage Tax group or company
  9. TTM17696
    Schedule 22 Finance Act 2000: Part XII groups - Para 124 merger - Tonnage Tax group or company and non-qualifying group or company
  10. TTM17701
    Schedule 22 Finance Act 2000: Part XII groups - Para 125 merger - non-qualifying group or company and qualifying non-Tonnage Tax group or company
  11. TTM17706
    Schedule 22 Finance Act 2000: Part XII groups - Para 126 meaning of ‘dominant party’ in relation to merger
  12. TTM17711
    Schedule 22 Finance Act 2000: Part XII groups - Para 127 demerger - single company
  13. TTM17716
    Schedule 22 Finance Act 2000: Part XII groups - Para 128 demerger - group
  14. TTM17721
    Schedule 22 Finance Act 2000: Part XII groups - Para 129 duty to notify Inland Revenue of group changes
Part XIII partnerships
  1. TTM17726
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 130 introduction
  2. TTM17731
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 131 calculation of partnership profits
  3. TTM17736
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 132 qualifying partnerships
  4. TTM17741
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 133 ships owned by or chartered to partners
  5. TTM17746
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 134 transactions not at arm's length
  6. TTM17751
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 135 adjustments for capital allowance purposes
  7. TTM17756
    Schedule 22 Finance Act 2000: Part XIII partnerships - Para 136 general
Part XIV leaving Tonnage Tax
  1. TTM17761
    Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 137 introduction
  2. TTM17766
    Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 138 exit charge - chargeable gains
  3. TTM17771
    Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 139 exit charge - balancing charges
  4. TTM17776
    Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 140 ten year disqualification from re-entry into Tonnage Tax
  5. TTM17781
    Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 141 second or subsequent application of this Part
Part XV supplementary provisions
  1. TTM17786
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 142 meaning of ‘ship’
  2. TTM17791
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 143 meaning of ‘on bareboat charter terms’
  3. TTM17796
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 144 meaning of ‘associate’
  4. TTM17801
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 145 exercise of functions conferred on ‘the Inland Revenue’
  5. TTM17806
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 146 meaning of ‘company’ and related expressions
  6. TTM17811
    Schedule 22 Finance Act 2000: Part XV supplementary provisions - Para 147 index of defined expressions