Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 51 general exclusion of investment income
(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.).
|General exclusion of investment income||TTM06500|