TTM14020 - Exiting Tonnage Tax: Types of exit

Ceasing to be a qualifying company or group

A company will cease to be qualifying if it:

• ceases to be within the charge to corporation tax (paragraph 16(1)(a)), or
• ceases to operate qualifying ships (paragraph 16(1)(b)), or
• its ships cease to be strategically and commercially managed in UK (paragraph 16(1)(c))

A group will cease to qualify if none of its companies qualify.

The relevant date for cessation will be the day the company or group ceased to qualify.

References