TTM02010 - Tonnage Tax Elections: Pre-election clearance

Clearance application before initial election

HM Revenue & Customs (HMRC) offers a non-statutory business clearance procedure. Full guidance can be found in the Non Statutory Business Clearance Guidance manual. The guidance that follows here does not replace the NSBG,

This clearance procedure is available to enable any company or group interested in Tonnage Tax to discuss its own circumstances with HMRC in advance of making the initial election.

Examples of companies that might find this procedure useful include:

• an existing UK company or group considering diversification into shipping,
• a company or group considering starting up a new shipping business in the United Kingdom, and
• an overseas shipping company or group considering expanding its operations to the United Kingdom.

References