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HMRC internal manual

Tonnage Tax Manual

From
HM Revenue & Customs
Updated
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Schedule 22 Finance Act 2000: Part XIII partnerships - Para 131 calculation of partnership profits

FA00/SCH22/PARA131

The regulations may provide that-

(a) for the purpose of calculating the profits of a partner which is a tonnage tax company, the profits of the partnership shall be calculated as if the partnership were a tonnage tax company, and

(b) for the purpose of calculating the profits of a partner which is not a tonnage tax company, the profits of the partnership shall be calculated as if the partnership were not a tonnage tax company.

References

SI00/2303/REG10 (Tonnage Tax profit of partner) TTM18010
   
Computation of profit TTM13020