Schedule 22 Finance Act 2000: Part XII groups - Para 128 demerger - group
(1) This paragraph applies where a tonnage tax group splits into two or more groups.
(2) In that case each new group that contains a qualifying company that was a tonnage tax company before the demerger 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, until the group election would have expired.
|Effect of demerger||TTM12410|