TTM12220 - Tonnage tax groups: Group arrangements
Matters covered
A group arrangement will normally cover the following matters:
- Dealing with HMRC on behalf of group companies in respect of non-statutory business clearances.
- Dealing with HMRC on behalf of group companies in respect of the tonnage tax election and renewal elections.
- Making notifications on behalf of group companies regarding whether the 75% limit on chartering in (FA00/SCH22/PARA37) has been exceeded.
- Making any appeal under FA00/SCH22/PARA43 against an exclusion from tonnage tax notice.
- Preparing and negotiating with HMRC calculations required under PARA62 (finance costs).
- Dealing with the HMRC on matters arising under PARA126 (4), regarding dominant party on a merger, and making any appeal under PARA126 (5) against HMRC determination.
- Making notifications under PARA129, duty to notify HMRC of group changes.
- The provision of any other information in relation to the tonnage tax regime, which it would be expedient to be provided on a group-wide basis.
It will not affect the requirement that an election be made jointly by all qualifying companies in a tonnage tax group, or any liability of a particular company under any provision of the Taxes Acts.
References
FA00/SCH22/PARA120 (arrangements for dealing with group matters) |
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Group arrangements |
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Arrangements for dealing with group matters |
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Officer's agreement to group arrangement |
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Changes to group arrangement - membership |
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Changes to group arrangement - details covered |