TTM17776 - Schedule 22 Finance Act 2000: Part XIV leaving Tonnage Tax - Para 140 ten year disqualification from re-entry into Tonnage Tax
FA00/SCH22/PARA140
(1) A company election made by a former tonnage tax company is ineffective if made before the end of the period of ten years beginning with the date on which the company ceased to be a tonnage tax company.
(2) A group election that-
(a) is made in respect of a group whose members include a former tonnage tax company, and
(b) would result in that company becoming a tonnage tax company,
is ineffective if made before the end of the period of ten years beginning with the date on which that company ceased to be a tonnage tax company.
(3) Sub-paragraphs (1) and (2) do not prevent a company becoming a tonnage tax company under and in accordance with the rules in Part XII of this Schedule (groups, mergers and related matters).
(4) In this paragraph “former tonnage tax company” means a company that is not a tonnage tax company but has previously been a tonnage tax company.
References
Ten year disqualification | TTM14110 |