TTM02040 - Tonnage Tax Elections: Pre-election clearance

Information to be provided to HMRC

The non-statutory business clearance correspondence should be made in writing and must include all pertinent information to enable a decision to be made. This should include full details of the tonnage tax group structure. A meeting may subsequently be held if it is considered necessary.

Provided that all pertinent information is given, and is put in place in full, the treatment agreed by HMRC in respect of the company or companies detailed in the election will be binding on HM Revenue & Customs See NBCG6600. This will hold until (and unless) company circumstances change such that the original clearance is no longer in point. Reviews to determine whether this is the case may form part of any enquiry into a tonnage tax company's tax return.

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