TTM17281 - Schedule 22 Finance Act 2000: Part VI relevant shipping profits - Para 48 qualifying incidental activities

FA00/SCH22/PARA48

(1) A company’s incidental activities means its ship-related activities that-

(a) are incidental to its core qualifying activities, and

(b) are not qualifying secondary activities.

(2) If the turnover in an accounting period of the company from its incidental activities (taken together) does not exceed 0.25%; of the company’s turnover in that period from-

(a) its core qualifying activities, and

(b) its qualifying secondary activities to the extent that they do not exceed the permitted level,

the company’s incidental activities in that period are qualifying incidental activities.

References

Qualifying incidental activities	TTM06200