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HMRC internal manual

Tonnage Tax Manual

Schedule 22 Finance Act 2000: Part IV the training requirement - Para 25 meaning of ‘training commitment’


(1) References in this Part of this Schedule to a “training commitment” are to a statement by a company or group setting out how it proposes to meet the minimum training obligation.

(2) A training commitment is not effective for the purposes of this Part of this Schedule unless approved by the Secretary of State.

(3) Sub-paragraphs (1) and (2) are subject to-

(a) paragraph 27(4) and (5) (power of Secretary of State to set training commitment), and

(b) paragraph 28(2) (power of Secretary of State to adjust training commitment to take account of changed circumstances).


Initial and annual training commitments TTM04110