TTM17551 - Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 95 quantitative restrictions - further provisions as to rate bands, limit and pooling

FA00/SCH22/PARA95

(1) The rate bands and limit in paragraph 94 (quantitative restrictions on allowances) apply separately in relation to each ship.

(2) The amounts specified in that paragraph apply in relation to the whole cost of providing the ship.

(3) If-

(a) the cost is shared by two or more persons, or

(b) a person acquires a part share in the ship,

that paragraph applies as if there were substituted in sub-paragraph (3)(a) and (b) and sub-paragraph (5) in relation to each person the proportion of the figure specified that his share of the cost bears to the whole cost.

(4) The pools referred to in sub-paragraph (4A) of that paragraph are class pools of all expenditure of a lessor that falls to be allocated to a tonnage tax (main rate), or tonnage tax (special rate) pool in respect of ships leased by him.

References

Entitlement to allowances	TTM10410
Shared expenditure	TTM10420