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 per cent limit | 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/PARA71(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 | | TTM15210 |
| voyage charter | | TTM15130 |
| Worldscale | | TTM15170 |
ReferencesFA00/SCH22/PARA147