Schedule 22 Finance Act 2000: Part I introductory - Para 5 Tonnage Tax profits - calculation in case of joint operation etc
(1) If two or more companies fall to be regarded as operators of a ship by virtue of a joint interest in the ship, or in an agreement for the use of the ship, the tonnage tax profits of each are calculated as if each were entitled to a share of the profits proportionate to its share of that interest.
(2) If two or more companies fall to be treated as the operator of a ship otherwise than as mentioned in sub-paragraph (1), the tonnage tax profits of each are computed as if each were the only operator.
|Joint interest in same ship at same level||TTM01310|
|Multiple interests in same ship at different level||TTM01320|