TTM05000 - The 75% limit on charters-in: contents

Introduction

This section covers the '75% limit', which applies to ship tonnage operated by a company chartered-in otherwise than on bareboat charter term.  It explains the reason for the conditions to be satisfied and how the limit is calculated.  It further explains the effect of exceeding the limit.

Outline and conditions

1. TTM05001

   Outline
2. TTM05010

   Conditions to be satisfied

Chartered-in

1. TTM05100

   What is ‘chartered-in’?
2. TTM05110

   Charters not taken into account
3. TTM05120

   Charters to be taken into account
4. TTM05130

   Summary of what to count

How to calculate

1. TTM05200

   How to calculate 75% limit
2. TTM05210

   Accounting periods of group companies
3. TTM05220

   Example 1 - Deferment of group entry if test failed
4. TTM05230

   Example 2 - Possible exclusion of group for exceeding limit
5. TTM05240

   Example 3 - All ships operated for whole accounting period
6. TTM05250

   Example 4 - Ships operated for varying periods during AP

If 75% limit exceeded

1. TTM05300

   Effect of exceeding the 75% limit
2. TTM05310

   Consideration of exclusion by HMRC
3. TTM05320

   Action by HMRC where limit exceeded
4. TTM05330

   Exclusion procedure
5. TTM05340

   Exclusion procedure - Appeals