TTM10160 - Ship Leasing: Defeased leasing

What to do with queries

If HMRC tax specialists are asked whether paragraph 90 will apply to deny capital allowances on the proposed finance lease of a qualifying ship to a tonnage tax company, he should obtain a detailed technical description of the arrangements, together with a plain-English summary, and submit it to the Tonnage Tax Unit for advice.

The Tonnage Tax Unit will liaise with SIS as necessary.

References