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)

TTM17676

Group arrangements

TTM12210

Arrangements for dealing with group matters

TTM12230

Officer's agreement to group arrangement

TTM12240

Changes to group arrangement - membership

TTM12250

Changes to group arrangement - details covered

TTM12260