TTM17106 - Schedule 22 Finance Act 2000: Part III qualifying companies and groups - Para 20 vessels excluded from being qualifying ships

FA00/SCH22/PARA20

(1) The following kinds of vessel are not qualifying ships for the purposes of this Schedule—

(a) fishing vessels or factory ships;

(b) pleasure craft;

(c) harbour or river ferries;

(d) offshore installations;

(e) tankers dedicated to a particular oil field;

(f) dredgers other than qualifying dredgers (*1)

(2) In sub-paragraph (1)(a) “factory ship” means a vessel providing processing services for the fishing industry.

(3) In sub-paragraph (1)(b) “pleasure craft” means a vessel of a kind whose primary use is for the purposes of sport or recreation.

(4) In sub-paragraph (1)(c) “harbour or river ferry” means a vessel used for harbour, estuary or river crossings.

(5) …(*2)

(6) For the purposes of sub-paragraph (1)(e) whether a tanker is dedicated to a particular oil field shall be determined in accordance with section 2 of the Oil Taxation Act 1983 (dedicated mobile assets).

(7) In this Schedule “qualifying dredger” means a dredger which—

(a) is self-propelled, and

(b) is constructed or adapted for the carriage of cargo;

(but see further paragraph 20A). (*1)

References

*1 TTM20005: Sub-para (1)(f) (which formerly read ‘dredgers’) substituted and sub-paras (7) inserted by FA 2005 s 93, Sch 7 paras 5, 18(1)

TTM20018 with effect from 1 July 2005,

TTM20019 -20021 - transitional provisions under FA 2005 Sch 7 paras 19-21.

*2 Sub-para (5) repealed by FA 2004 ss 146, 326, Sch 27 para 7, Sch 42 Pt 2(19) with effect for accounting periods ending after 31 March 2004.

Excluded vessels	TTM03610
Excluded vessels: Dredgers other than qualifying dredgers	TTM03670
Use of ship: Towage, salvage or other marine assistance	TTM03560