TTM02100 - Tonnage tax elections: How to elect?
Company or group election
A tonnage tax election may be made by
a qualifying single company (a ‘company election’), or
a qualifying group (a ‘group election’).
Group election
A group election must be made jointly by all the qualifying companies in the group. (See TTM12010 on the extended definition of ‘group’ for tonnage tax purposes.)
Once made a group election applies to all the qualifying companies in a group.
References
| FA00/SCH22/PARA7 (group or company election) | TTM17031 |
| FA00/SCH22/PARA9 (2) (group election to be made jointly) | TTM17041 |
| Form of election | TTM02110 |