Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Tonnage Tax Manual

From
HM Revenue & Customs
Updated
, see all updates

Schedule 22 Finance Act 2000: Part XII groups - Para 122 merger between Tonnage Tax groups or companies

FA00/SCH22/PARA122

(1) This paragraph applies where there is a merger-

(a) between two or more tonnage tax groups,

(b) between one or more tonnage tax groups and one or more tonnage tax companies, or

(c) between two or more tonnage tax companies.

(2) In all those cases the group resulting from the merger is a tonnage tax group as if a group election had been made.

(3) That deemed election continues in force, subject to the provisions of this Schedule-

(a) if there is a dominant party to the merger, until that party’s tonnage tax election would have expired;

(b) if there is no dominant party, until whichever of the existing tonnage tax elections had the longest period left to run would have expired.

References

Merger between Tonnage Tax groups or companies TTM12310