TTM12210 - Tonnage Tax Groups: Group arrangements

There are advantages for both the taxpayer and HMRC if a tonnage tax group operates under a group arrangement, (paragraph 120). A group arrangement will enable a nominated company to act as a representative of the group. This will reduce the need for administrative correspondence between the Inland Revenue and each individual company in the group, and make some aspects of the legislation much simpler to implement, for instance, the provisions of paragraphs 37 (75% limit) and 62 (finance costs).

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