TTMGLOSSARY - Glossary
A B C D E F G I L M N O P Q R S T V W
Many of the technical terms used in Tonnage Tax are defined in the legislation (andlisted in paragraph 147):
| Term | Legislation | TTM reference |
|---|---|---|
| 75% limit | FA00/SCH22/PARA37 |
A
| Term | Legislation | TTM reference |
|---|---|---|
| agent | TTM15240 | |
| associate (of an individual): | FA00/SCH22/PARA144 |
B
| Term | Legislation | TTM reference |
|---|---|---|
| bareboat charter terms | FA00/SCH22/PARA143 | TTM15110 |
| bills of lading | TTM15140 | |
| broker | TTM15240 |
C
| Term | Legislation | TTM reference |
|---|---|---|
| capital allowances (in Part IX) | FA00/SCH22/PARA88(1) | |
| certificate of non-compliance (with training requirement) | FA00/SCH22/PARA32 | |
| charter by demise | TTM15110 | |
| company | FA00/SCH22/PARA146 | TTM17146 |
| company election | FA00/SCH22/PARA71(a) | TTM17071 |
| conference (liner or shipping) | TTM15210 | |
| contracts of affreightment | TTM15100 | |
| control | FA00/SCH22/PARA118 (also FA00/SCH22/PARA117) | |
| controlled foreign company | FA00/SCH22/PARA146 | |
| core qualifying activities | FA00/SCH22/PARA46 | |
| cost of providing the ship (in Part X) | FA00/SCH22/PARA96 |
D
| Term | Legislation | TTM reference |
|---|---|---|
| deadweight tonnage | TTM15020 | |
| defeased leasing | FA00/SCH22/PARA90 | TTM10110 |
| demerger | FA00/SCH22/PARA121(1) | |
| demurrage | TTM15150 | |
| despatch | TTM15150 | |
| dominant party (in relation to a merger) | FA00/SCH22/PARA126 |
E
| Term | Legislation | TTM reference |
|---|---|---|
| entering (or leaving) Tonnage Tax | FA00/SCH22/PARA2(2) |
F
| Term | Legislation | TTM reference |
|---|---|---|
| finance costs (in paragraphs 61 and 62) | FA00/SCH22/PARA63 | |
| finance lease (and lessor and lessee) (in Part X) | FA00/SCH22/PARA89(2) | |
| frozen pool | TTM09010 |
G
| Term | Legislation | TTM reference |
|---|---|---|
| general average | TTM15230 | |
| gross tonnage | TTM15020 | |
| group | FA00/SCH22/PARA116 | |
| group election | FA00/SCH22/PARA7(1)(b) |
I
| Term | Legislation | TTM reference |
|---|---|---|
| initial period | FA00/SCH22/PARA10(1) (also FA00/SCH22/PARA11(2)) | |
| Inland Revenue | FA00/SCH22/PARA145 |
L
| Term | Legislation | TTM reference |
|---|---|---|
| leaving (or entering) Tonnage Tax | FA00/SCH22/PARA2(2) | |
| lightweight tonnage | TTM15020 | |
| liner conference | TTM15210 |
M
| Term | Legislation | TTM reference |
|---|---|---|
| member of group | FA00/SCH22/PARA116 | |
| merger | FA00/SCH22/PARA121(1) | |
| minimum training obligation | FA00/SCH22/PARA24 |
N
| Term | Legislation | TTM reference |
|---|---|---|
| net tonnage | TTM15020 | |
| notional qualifying expenditure | FA00/SCH22/PARA110(1) | TTM11300 |
O
| Term | Legislation | TTM reference |
|---|---|---|
| offshore activities (in Part XI) | FA00/SCH22/PARA104 | |
| offshore profits (in Part XI) | FA00/SCH22/PARA107(1) | |
| operating (a ship) | FA00/SCH22/PARA18 |
P
| Term | Legislation | TTM reference |
|---|---|---|
| payments in lieu of training (PILOT) | FA00/SCH22/PARA29 | |
| pooling and related expressions (in Parts IX, X and XI) | FA00/SCH22/PARA88(2) and (3) | |
| protection and indemnity club (P&I) | TTM15220 |
Q
| Term | Legislation | TTM reference |
|---|---|---|
| qualifying activity and qualifying expenditure (in Parts IX, X and XI) | FA00/SCH22/PARA88(1) | |
| qualifying company | FA00/SCH22/PARA16(1) (also FA00/SCH22/PARA17) | |
| alifying group | FA00/SCH22/PARA16(2) | |
| qualifying incidental activities | FA00/SCH22/PARA48 | |
| qualifying secondary activities | FA00/SCH22/PARA47 | |
| qualifying ship | FA00/SCH22/PARA19 onwards |
R
| Term | Legislation | TTM reference |
|---|---|---|
| relevant activities (in relation to ‘dominant party’) | FA00/SCH22/PARA126(3) | |
| relevant shipping income | FA00/SCH22/PARA44(2) | |
| relevant shipping profits | FA00/SCH22/PARA44(1) (also FA00/SCH22/PARA108(2)) | |
| renewal election | FA00/SCH22/PARA15(1) |
S
| Term | Legislation | TTM reference |
|---|---|---|
| ship | FA00/SCH22/PARA142 | |
| shipping pool | TTM15210 | |
| single company | FA00/SCH22/PARA146 | |
| subject to Tonnage Tax | FA00/SCH22/PARA2(2) |
T
| Term | Legislation | TTM reference |
|---|---|---|
| the 75%; limit (on chartered-in tonnage) | FA00/SCH22/PARA37 | |
| thick capitalisation | TTM07400 | |
| time charter | TTM15120 | |
| tonnage | FA00/SCH22/PARA6(1) | |
| Tonnage Tax | FA00/SCH22/PARA1(1) | |
| tonnage tax activities | FA00/SCH22/PARA45 (and see FA00/SCH22/PARA108(1)) | |
| tonnage tax asset (in Parts VIII and XI) | FA00/SCH22/PARA64 | |
| tonnage tax company | FA00/SCH22/PARA2(1) | |
| tonnage tax election | FA00/SCH22/PARA1(2) (also Part II) | |
| tonnage tax group | FA00/SCH22/PARA2(1) | |
| tonnage tax pool (in Part IX) | FA00/SCH22/PARA69 | |
| tonnage tax profits | FA00/SCH22/PARA3 onwards (also Part XI) | |
| tonnage tax trade | FA00/SCH22/PARA53(1) | |
| training commitment | FA00/SCH22/PARA25 (and see FA00/SCH22/PARA27(4) & (5), and FA00/SCH22/PARA28(2)) |
V
| Term | Legislation | TTM reference |
|---|---|---|
| voyage charter | TTM15130 |
W
| Term | Legislation | TTM reference |
|---|---|---|
| Worldscale | TTM15170 |