TTM12200 - Tonnage tax groups: Group arrangements
Notification of group changes
A tonnage tax company that becomes or ceases to be a member of a particular group must notify HMRC of that fact within 12 months of the change (FA00/SCH22/PARA129). Failure to do so may incur a penalty under FA89/S164. The requirement may be undertaken by the representative company under a group arrangement, but liability to a penalty for failure remains that of the company (FA00/SCH22/PARA120 (3)(b)).
References
| FA00/SCH22/PARA120 (arrangements for dealing with group matters) | TTM17676 |
| FA00/SCH22/PARA129 (duty to notify HMRC of group changes) | TTM17721 |
| Group arrangements | TTM12210 |