TTM12410 - Tonnage Tax Groups: Demerger

Effect

Where that group had elected for Tonnage Tax, any singleton qualifying company, or new group that contains a qualifying company, resulting from a demerger of the original tonnage tax group, remains a Tonnage Tax company or group. A deemed election continues in force and expires at the same time the original group election would have expired (paragraphs 127 and 128).

References