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HMRC internal manual

Tonnage Tax Manual

From
HM Revenue & Customs
Updated
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Many of the technical terms used in Tonnage Tax are defined in the legislation (andlisted in paragraph 147):

75% limit FA00/SCH22/PARA37 TTM17037
     

A

agent   TTM15240
     
associate (of an individual): FA00/SCH22/PARA144 TTM17144

B

bareboat charter terms FA00/SCH22/PARA143 TTM17143
TTM15110    
     
bills of lading   TTM15140
broker   TTM15240

C

capital allowances (in Part IX) FA00/SCH22/PARA88(1) TTM17088
     
certificate of non-compliance (with training requirement) FA00/SCH22/PARA32 TTM17032
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) TTM17118
TTM17117    
controlled foreign company FA00/SCH22/PARA146 TTM17146
core qualifying activities FA00/SCH22/PARA46 TTM17046
cost of providing the ship (in Part X) FA00/SCH22/PARA96 TTM17096

D

deadweight tonnage   TTM15020
     
defeased leasing FA00/SCH22/PARA90 TTM10110
demerger FA00/SCH22/PARA121(1) TTM17121
demurrage   TTM15150
despatch   TTM15150
dominant party (in relation to a merger) FA00/SCH22/PARA126 TTM17126

E

entering (or leaving) Tonnage Tax FA00/SCH22/PARA2(2) TTM17002
     

F

finance costs (in paragraphs 61 and 62) FA00/SCH22/PARA63 TTM17063
     
finance lease (and lessor and lessee) (in Part X) FA00/SCH22/PARA89(2) TTM17089
frozen pool   TTM09010

G

general average   TTM15230
     
gross tonnage   TTM15020
group FA00/SCH22/PARA116 TTM17116
group election FA00/SCH22/PARA7(1)(b) TTM17007

I

initial period FA00/SCH22/PARA10(1) (also FA00/SCH22/PARA11(2)) TTM17010
TTM17011    
     
Inland Revenue FA00/SCH22/PARA145 TTM17145

L

leaving (or entering) Tonnage Tax FA00/SCH22/PARA2(2) TTM17002
     
lightweight tonnage   TTM15020
liner conference   TTM15210

M

member of group FA00/SCH22/PARA116 TTM17116
     
merger FA00/SCH22/PARA121(1) TTM17121
minimum training obligation FA00/SCH22/PARA24 TTM17024

N

net tonnage   TTM15020
     
notional qualifying expenditure FA00/SCH22/PARA110(1) TTM11300

O

offshore activities (in Part XI) FA00/SCH22/PARA104 TTM17104
     
offshore profits (in Part XI) FA00/SCH22/PARA107(1) TTM17107
operating (a ship) FA00/SCH22/PARA18 TTM17018

P

payments in lieu of training (PILOT) FA00/SCH22/PARA29 TTM17029
     
pooling and related expressions (in Parts IX, X and XI) FA00/SCH22/PARA88(2) and (3) TTM17088
protection and indemnity club (P&I)   TTM15220

Q

qualifying activity and qualifying expenditure (in Parts IX, X and XI) FA00/SCH22/PARA88(1) TTM17088
     
qualifying company FA00/SCH22/PARA16(1) (also FA00/SCH22/PARA17) TTM17016
TTM17017    
qualifying group FA00/SCH22/PARA16(2) TTM17016
qualifying incidental activities FA00/SCH22/PARA48 TTM17048
qualifying secondary activities FA00/SCH22/PARA47 TTM17047
qualifying ship FA00/SCH22/PARA19 onwards TTM17019

R

relevant activities (in relation to ‘dominant party’) FA00/SCH22/PARA126(3) TTM17126
     
relevant shipping income FA00/SCH22/PARA44(2) TTM17044
relevant shipping profits FA00/SCH22/PARA44(1) (also FA00/SCH22/PARA108(2)) TTM17044
TTM17108    
renewal election FA00/SCH22/PARA15(1) TTM17015

S

ship FA00/SCH22/PARA142 TTM17142
     
shipping pool   TTM15210
single company FA00/SCH22/PARA146 TTM17146
subject to Tonnage Tax FA00/SCH22/PARA2(2) TTM17002

T

| the 75%; limit (on chartered-in tonnage) | FA00/SCH22/PARA37 | TTM17037 | || | thick capitalisation | | TTM07400 | | time charter | | TTM15120 | | tonnage | FA00/SCH22/PARA6(1) | TTM17006 | | Tonnage Tax | FA00/SCH22/PARA1(1) | TTM17001 | | tonnage tax activities | FA00/SCH22/PARA45 (and see FA00/SCH22/PARA108(1)) | TTM17045
TTM17108 | | tonnage tax asset (in Parts VIII and XI) | FA00/SCH22/PARA64 | TTM17064 | | tonnage tax company | FA00/SCH22/PARA2(1) | TTM17002 | | tonnage tax election | FA00/SCH22/PARA1(2)
(also Part II) | TTM17001 | | tonnage tax group | FA00/SCH22/PARA2(1) | TTM17002 | | tonnage tax pool (in Part IX) | FA00/SCH22/PARA69 | TTM17069 | | tonnage tax profits | FA00/SCH22/PARA3 onwards (also Part XI) | TTM17003 | | tonnage tax trade | FA00/SCH22/PARA53(1) | TTM17053 | | training commitment | FA00/SCH22/PARA25 (and see FA00/SCH22/PARA27(4) & (5), and FA00/SCH22/PARA28(2)) | TTM17025
TTM17027
TTM17028 |

V

voyage charter   TTM15130
     

W

Worldscale   TTM15170