TTM14000 - Exiting tonnage tax: contents

IntroductionThis section covers the tax treatment of companies that exit the tonnage tax regime. The treatment is different depending on whether there is a voluntary exit from the regime or whether the exit is non voluntary or forced. It also explains the specific provisions for exit charges.

 

Types of exit

1. TTM14001

   Types of exit
2. TTM14010

   Expiry of election
3. TTM14020

   Ceasing to be a qualifying company or group
4. TTM14030

   Ceasing to qualify, but remaining in Tonnage Tax group (not an exit)
5. TTM14040

   Operation of the merger provisions - voluntary exit
6. TTM14050

   Operation of the merger provisions - forced exit
7. TTM14060

   Exclusion for failing to meet 75 per cent test on charters-in
8. TTM14070

   Exclusion for tax avoidance
9. TTM14080

   Opportunity to exit tonnage tax – withdrawal election
10. TTM14090

    Effect of a withdrawal notice

Effects of exiting regime

1. TTM14100

   Effects of exiting regime
2. TTM14110

   Ten year disqualification
3. TTM14120

   Reasons relating wholly or mainly to tax
4. TTM14200

   Exit charge - General
5. TTM14210

   Exit charge - Chargeable gains
6. TTM14220

   Exit charge - Balancing charges
7. TTM14230

   Exit charge - if a company leaves tonnage tax more than once