TTM12220 - Tonnage Tax Groups: Group arrangements

Matters covered

A group arrangement will normally cover the following matters:

• Dealing with the HMRC on behalf of group companies in respect of non-statutory business clearances.
• Dealing with the HMRC on behalf of group companies in respect of the tonnage tax election and renewal elections.
• Making notifications on behalf of group companies as to whether or not the 75% limit on chartering-in (set out in paragraph 37) has been exceeded and making any appeal under paragraph 43 (against an exclusion from tonnage tax notice).
• Preparing and negotiating with the HMRC calculations required under paragraph 62 (finance costs).
• Dealing with the In HMRC on matters arising under paragraph 126(4) (dominant party on a merger) and making an appeal under paragraph 126(5) (against HMRC determination).
• Making notifications under paragraph 129 (duty to notify HMRC of group changes).
• The provision of any other information in relation to the Tonnage Tax regime, which it would be expedient to be provided on a group-wide basis.

It will not affect the requirement that an election be made jointly by all qualifying companies in a tonnage tax group, or any liability of a particular company under any provision of the Taxes Acts.

References