TTM09000 - Capital allowances: contents

Introduction

This section details the capital allowance regime for tonnage tax companies. It explains the different treatment for assets acquired either before entry into tonnage tax or acquired during tonnage tax and how the disposal of these assets is treated. It also explains what happens when a company leaves tonnage tax.

Outline

1. TTM09001

   Outline

Entry into tonnage tax (P&M)

1. TTM09010

   Tonnage tax pool ('frozen pool')
2. TTM09020

   Unrelieved qualifying expenditure
3. TTM09030

   Apportioning a mixed pool
4. TTM09040

   Mixed use asset acquired before entry
5. TTM09050

   Ships bought and sold within 12 months

During tonnage tax (P&M)

1. TTM09100

   Mixed use asset acquired after entry
2. TTM09110

   Change of use of tonnage tax asset - General
3. TTM09120

   Change of use of tonnage tax asset acquired before entry
4. TTM09130

   Change of use of tonnage tax asset acquired after entry
5. TTM09140

   Change of use of non-Tonnage Tax asset
6. TTM09150

   Disposals of plant and machinery

Balancing charges (P&M)

1. TTM09200

   Deferment of balancing charges arising before entry
2. TTM09210

   Reduction of balancing charges arising during tonnage tax
3. TTM09220

   Giving effect to balancing charges arising during tonnage tax
4. TTM09230

   Deferment of balancing charges arising after entry
5. TTM09240

   Examples of deferred balancing charges
6. TTM09250

   Procedure on deferred balancing charge
7. TTM09260

   Surrender of unrelieved qualifying expenditure

Exit from tonnage tax (P&M)

1. TTM09300

   Qualifying expenditure - General
2. TTM09305

   Expiry of election or withdrawal notice
3. TTM09310

   Assets other than expensive cars and long-life assets
4. TTM09320

   Expensive cars
5. TTM09330

   Long-life assets
6. TTM09340

   Capital allowances after exiting from tonnage tax

Industrial buildings

1. TTM09400

   Buildings used in tonnage tax trade
2. TTM09410

   Balancing charges
3. TTM09420

   Industrial building disposed of by tonnage tax company
4. TTM09430

   Company with industrial building leaves tonnage tax