TTM15010 - Background material: Glossary of technical and shipping terms
Tonnage tax glossary
Many
of the technical terms used in tonnage tax are defined in the legislation (and
listed in FA00/SCH22/PARA147):
Term | Statutory Reference | Manual Reference |
---|---|---|
75% limit on chartering in | FA00/SCH22/PARA37 | TTM17226 |
associate (of an individual): | FA00/SCH22/PARA144 | TTM17796 |
bareboat charter terms | FA00/SCH22/PARA143 |
TTM17791 TTM15110 |
bills of lading | - | TTM15140 |
brokers and agents of companies | - | TTM15240 |
capital allowances (FA00/SCH22/PART9) | FA00/SCH22/PARA88 (1) | TTM17481 |
certificate of non-compliance (with training requirement) | FA00/SCH22/PARA32 | TTM17201 |
charter by demise | - | TTM15110 |
company | FA00/SCH22/PARA146 | TTM17806 |
company election | FA00/SCH22/PARA7 (1)(a) | TTM17396 |
conference (liner or shipping) | - | TTM15210 |
contracts of affreightment | - | TTM15100 |
control | FA00/SCH22/PARA118 (also FA00/SCH22/PARA117) |
TTM17666 TTM17661 |
controlled foreign company | FA00/SCH22/PARA146 | TTM17806 |
core qualifying activities | FA00/SCH22/PARA46 | TTM17271 |
cost of providing the ship (FA00/SCH22/PART10) | FA00/SCH22/PARA96 | TTM17556 |
deadweight tonnage | - | TTM15020 |
defeased leasing | FA00/SCH22/PARA90 | TTM10110 |
demerger | FA00/SCH22/PARA121 (1) | TTM17681 |
demurrage | - | TTM15150 |
despatch | - | TTM15150 |
dominant party (in relation to a merger) | FA00/SCH22/PARA126 | TTM17706 |
entering (or leaving) tonnage tax | FA00/SCH22/PARA2 (2) | TTM17006 |
finance costs (in FA00/SCH22/PARA61 and PARA62) | FA00/SCH22/PARA63 | TTM17356 |
finance lease (and lessor and lessee) (in FA00/SCH22/PART10) | FA00/SCH22/PARA89 (2) | TTM17486 |
frozen pool | - | TTM09010 |
general average | - | TTM15230 |
gross tonnage | - | TTM15020 |
group | FA00/SCH22/PARA116 | TTM17656 |
group election | FA00/SCH22/PARA7 (1)(b) | TTM17031 |
initial period | FA00/SCH22/PARA10 (1) (also FA00/SCH22/PARA11 (2)) |
TTM17046 TTM17051 |
Inland Revenue (now HMRC) | FA00/SCH22/PARA145 | TTM17801 |
leaving (or entering) tonnage tax | FA00/SCH22/PARA2 (2) | TTM17006 |
lightweight tonnage | - | TTM15020 |
liner conference | - | TTM15210 |
member of group | FA00/SCH22/PARA116 | TTM17656 |
merger | FA00/SCH22/PARA121 (1) | TTM17681 |
minimum training obligation | FA00/SCH22/PARA24 | TTM17161 |
net tonnage | - | TTM15020 |
notional qualifying expenditure | FA00/SCH22/PARA110 (1) | TTM11300 |
offshore activities (in PART11) | FA00/SCH22/PARA104 | TTM17596 |
offshore profits (in PART11) | FA00/SCH22/PARA107 (1) | TTM17611 |
operating (a ship) | FA00/SCH22/PARA18 | TTM17096 |
payments in lieu of training (PILOT) | FA00/SCH22/PARA29 | TTM17186 |
pooling and related expressions (in PART9, PART10 and PART11) | FA00/SCH22/PARA88 (2) and (3) | TTM17481 |
protection and indemnity club (P&I) | - | TTM15220 |
qualifying activity and qualifying expenditure (in PART9, PART10 and PART11) | FA00/SCH22/PARA88 (1) | TTM17481 |
qualifying company | FA00/SCH22/PARA16 (1) (also FA00/SCH22/PARA17) |
TTM17086 TTM17091 |
qualifying group | FA00/SCH22/PARA16 (2) | TTM17086 |
qualifying incidental activities | FA00/SCH22/PARA48 | TTM17281 |
qualifying secondary activities | FA00/SCH22/PARA47 | TTM17276 |
qualifying ship | FA00/SCH22/PARA19 onwards | TTM17101 |
relevant activities (in relation to ‘dominant party’) | FA00/SCH22/PARA126 (3) | TTM17706 |
relevant shipping income | FA00/SCH22/PARA44 (2) | TTM17261 |
relevant shipping profits | FA00/SCH22/PARA44 (1) (also FA00/SCH22/PARA108 (2)) |
TTM17261 TTM17616 |
renewal election | FA00/SCH22/PARA15 (1) | TTM17071 |
ship | FA00/SCH22/PARA142 | TTM17786 |
shipping pool | - | TTM15210 |
single company | FA00/SCH22/PARA146 | TTM17806 |
subject to Tonnage Tax | FA00/SCH22/PARA2 (2) | TTM17006 |
the 75 per cent limit (on chartered in tonnage) | FA00/SCH22/PARA37 | TTM17226 |
thick capitalisation | - | TTM07400 |
time charter | - | TTM15120 |
tonnage | FA00/SCH22/PARA6 (1) | TTM17026 |
tonnage tax | FA00/SCH22/PARA1 (1) | TTM17001 |
tonnage tax activities | FA00/SCH22/PARA45 (and see FA00/SCH22/PARA108 (1)) |
TTM17266 TTM17616 |
tonnage tax asset (in PART8 and PART11) | FA00/SCH22/PARA64 | TTM17361 |
tonnage tax company | FA00/SCH22/PARA2 (1) | TTM17006 |
tonnage tax election | FA00/SCH22/PARA1(2) (also PART2) |
TTM17001 |
tonnage tax group | FA00/SCH22/PARA2(1) | TTM17006 |
tonnage tax pool (PART9) | FA00/SCH22/PARA69 | TTM17386 |
tonnage tax profits | FA00/SCH22/PARA3 onwards (also PART11) | TTM17011 |
tonnage tax trade | FA00/SCH22/PARA53 (1) | TTM17306 |
training commitment | FA00/SCH22/PARA25 (and see FA00/SCH22/PARA27 (4) and (5), and FA00/SCH22/PARA28 (2)) |
TTM17166 TTM17176 TTM17181 |
withdrawal Notice | FA00/SCH22/PARA15A | TTM02700 |
vessel pool | - | |
voyage charter | - | TTM15130 |
Worldscale | - | TTM15170 |
References
FA00/SCH22/PARA147