Schedule 22 Finance Act 2000: Part XII groups - Para 125 merger - non-qualifying group or company and qualifying non-Tonnage Tax group or company
(1) This paragraph applies where there is a merger between a non-qualifying group or company (“NQ”) and a qualifying non-tonnage tax group or company.
(2) In that case, if NQ is the dominant party the group resulting from the merger may make a tonnage tax election having effect as from the date of the merger.
(3) Any such election must be made-
(a) jointly by all the qualifying companies in the group resulting from the merger,
(b) by notice to the Inland Revenue,
(c) within twelve months of the merger.
|Merger between NQ and QNT||TTM12340|