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HMRC internal manual

Tonnage Tax Manual

From
HM Revenue & Customs
Updated
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Tonnage Tax Regulations 2000: Regulation 6

Long-life assets – writing-down basis

SI00/2303/REG6(1) This regulation applies to long-life assets described in regulation 4(1)(b).

(2) The written down value of the paragraph 85(2)(a) amount for the asset shall be determined by multiplying that amount by the percentage given by the table in paragraph (3).

(3) That table is as follows –

Length of qualifying holding period for the asset Percentage of the paragraph 85(2)(a) amount which is qualifying expenditure under Part II of the 1990 Act
   
Less than or equal to 1 year 94
From 1 year and one day to 2 years 88
From 2 years and one day to 3 years 83
From 3 years and one day to 4 years 78
From 4 years and one day to 5 years 73
From 5 years and one day to 6 years 69
From 6 years and one day to 7 years 65
From 7 years and one day to 8 years 61
From 8 years and one day to 9 years 57
From 9 years and one day to 10 years 54
From 10 years and one day to 11 years 51
From 11 years and one day to 13 years 47
From 13 years and one day to16 years 40
From 16 years and one day to19 years 33
From 19 years and one day to 22 years 27
From 22 years and one day to 25 years 23
From 25 years and one day to 30 years 18
From 30 years and one day to 35 years 13
From 35 years and one day to 40 years 10
From 40 years and one day to 45 years 7
From 45 years and one day to 50 years 5
From 50 years and one day to 60 years 3
From 60 years and one day to 70 years 2
More than 70 years Nil

References

Qualifying expenditure on exit TTM09300
   
Long-life assets TTM09330