TTM02190 - Further opportunity to elect: Further windows of opportunity 1 July 2005 to 31 December 2006 and 1 June 2023 to 30 November 2024

By means of Treasury orders made on 6 June 2005 and 9 May 2023 further windows for elections into tonnage tax were allowed. Elections made during the new window will have effect in accordance with the general rule in FA00/SCH22/PARA12 (1).

There are a number of exceptions to the general rule:

• See TTM02210 for backdating the date of entry
• See TTM02220 for deferring the date of entry for one AP
• See TTM02230 for deferring the date of entry for two APs

A tonnage tax election made during the new window of opportunity cannot have effect in relation to an accounting period beginning before 1 January 2005 (in relation to the first further opportunity to elect) or 1 January 2023 (in relation to the second opportunity). If the general rule would otherwise produce that effect, the election has effect instead from the beginning of the accounting period following that in which it is made.

References

The Tonnage Tax (Further Opportunity for Election) Order 2005 SI 2005 No 1449

The Tonnage Tax (Further Opportunity for Election) Order 2023 SI 2023 No 508