TTM17296 - Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 51 general exclusion of investment income

FA00/SCH22/PARA51

(1) Income from investments is not relevant shipping income.

(2) To the extent that an activity gives rise to income from investments it is not regarded as part of a company’s tonnage tax activities.

(3) For the purposes of this paragraph “income from investments” includes anything charged to tax under-

(a) Part 4 of the Corporation Tax Act 2009 (property income),

(b) Section 299 of that Act (loan relationships: non-trading profits),

(c) Chapter 5 of Part 10 of that Act (distributions from unauthorised unit trusts), or

(d) Chapter 7 of that Part (annual payments not otherwise charged)

 (4) Sub-paragraph (1) above does not affect income that is relevant shipping income under- paragraph 49 (distributions of overseas shipping companies), or paragraph 50 (certain interest etc.).

References

General exclusion of investment income	TTM06500