TTM02000 - Tonnage Tax Elections

Introduction

This section covers the process for electing into tonnage tax and when an election into tonnage tax can be made. It explains the pre election non-statutory clearance process, how to elect into tonnage tax and the period for which a tonnage tax election is in force. It also explains when and how a company may withdraw form a tonnage tax election.

Outline

TTM02001

Outline

Pre-election clearance

TTM02010	Clearance application before initial election
TTM02020	Clearance application before renewal election
TTM02030	Areas covered by clearance application
TTM02040	Information to be provided to inspector
TTM02050	Timing of clearance application
TTM02060	Foreign company or group considering commencing qualifying activities in the UK
TTM02070	Group Arrangements

How to elect

TTM02100	Company or group election
TTM02110	Form of election
TTM02120	Action by inspector on receipt of election

When to elect

TTM02160	Window of opportunity when qualifying after 28 July 2000
TTM02170	Window of opportunity when opportunity to elect under the merger provisions
TTM02180	Further windows of opportunity by Treasury order
TTM02190	Further opportunity to elect

When election takes effect

TTM02200	General rule
TTM02210	Backdating an ‘initial period’ election
TTM02220	Deferring an ‘initial period’ election to the next accounting period
TTM02230	Deferring an ‘initial period’ election to the next but one accounting period
TTM02240	Group companies with different accounting periods
TTM02260	Election, made after end of ‘initial period’ and outside a window of opportunity
TTM02265	When election takes effect; foreign groups new to UK
TTM02270	Appeals against inspector’s refusal to vary date of entry
TTM02301	Example 1: Election in ‘window of opportunity’
TTM02302	Example 2: Group companies with common accounting dates
TTM02303	Example 3: Group companies with differing accounting dates