TTM09020 - Capital Allowances: Entry into tonnage tax (P&M)

Unrelieved qualifying expenditure

For the purpose of calculating the amount to be taken to the tonnage tax (frozen) pool, see TTM09010, ‘unrelieved qualifying expenditure’ means:
 

• the balance that would otherwise have been carried forward under CAA01/PART2, namely, the written down value immediately before the company’s entry into tonnage tax, after effect has been given to capital allowances claims for the final pre-tonnage tax period,

plus

• any balance of qualifying expenditure which remains unrelieved by virtue of notice having been given under CAA01/S130, that is, any outstanding ‘free depreciation’, see CA25200 onwards.

References

FA00/SCH22/PARA69 (2) and (4) (tonnage tax pool)	TTM17386
Tonnage tax pool	TTM09010