TTM15010 - Background Material: Glossary of technical and shipping terms
Tonnage tax glossary
Many of the technical terms used in Tonnage Tax are defined in the legislation (and listed in paragraph 147):
|
Term |
Statutory Reference |
Manual Reference |
|
75% limit |
FA00/SCH22/PARA37 |
|
|
agent |
|
|
|
associate (of an individual): |
FA00/SCH22/PARA144 |
|
|
bareboat charter terms |
FA00/SCH22/PARA143 |
|
|
bills of lading |
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|
|
broker |
|
|
|
capital allowances (in Part IX) |
FA00/SCH22/PARA88(1) |
|
|
certificate of non-compliance (with training requirement) |
FA00/SCH22/PARA32 |
|
|
charter by demise |
|
|
|
company |
FA00/SCH22/PARA146 |
|
|
company election |
FA00/SCH22/PARA71(a) |
|
|
conference (liner or shipping) |
|
|
|
contracts of affreightment |
|
|
|
control |
FA00/SCH22/PARA118 (also FA00/SCH22/PARA117) |
|
|
controlled foreign company |
FA00/SCH22/PARA146 |
|
|
core qualifying activities |
FA00/SCH22/PARA46 |
|
|
cost of providing the ship (in Part X) |
FA00/SCH22/PARA96 |
|
|
deadweight tonnage |
|
|
|
defeased leasing |
FA00/SCH22/PARA90 |
|
|
demerger |
FA00/SCH22/PARA121(1) |
|
|
demurrage |
|
|
|
despatch |
|
|
|
dominant party (in relation to a merger) |
FA00/SCH22/PARA126 |
|
|
entering (or leaving) Tonnage Tax |
FA00/SCH22/PARA2(2) |
|
|
finance costs (in paragraphs 61 and 62) |
FA00/SCH22/PARA63 |
|
|
finance lease (and lessor and lessee) (in Part X) |
FA00/SCH22/PARA89(2) |
|
|
frozen pool |
|
|
|
general average |
|
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|
gross tonnage |
|
|
|
group |
FA00/SCH22/PARA116 |
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|
group election |
FA00/SCH22/PARA7(1)(b) |
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|
initial period |
FA00/SCH22/PARA10(1) (also FA00/SCH22/PARA11(2)) |
|
|
Inland Revenue |
FA00/SCH22/PARA145 |
|
|
leaving (or entering) Tonnage Tax |
FA00/SCH22/PARA2(2) |
|
|
lightweight tonnage |
|
|
|
liner conference |
|
|
|
member of group |
FA00/SCH22/PARA116 |
|
|
merger |
FA00/SCH22/PARA121(1) |
|
|
minimum training obligation |
FA00/SCH22/PARA24 |
|
|
net tonnage |
|
|
|
notional qualifying expenditure |
FA00/SCH22/PARA110(1) |
|
|
offshore activities (in Part XI) |
FA00/SCH22/PARA104 |
|
|
offshore profits (in Part XI) |
FA00/SCH22/PARA107(1) |
|
|
operating (a ship) |
FA00/SCH22/PARA18 |
|
|
payments in lieu of training (PILOT) |
FA00/SCH22/PARA29 |
|
|
pooling and related expressions (in Parts IX, X and XI) |
FA00/SCH22/PARA88(2) and (3) |
|
|
protection and indemnity club (P&I) |
|
|
|
qualifying activity and qualifying expenditure (in Parts IX, X and XI) |
FA00/SCH22/PARA88(1) |
|
|
qualifying company |
FA00/SCH22/PARA16(1) (also FA00/SCH22/PARA17) |
|
|
qualifying group |
FA00/SCH22/PARA16(2) |
|
|
qualifying incidental activities |
FA00/SCH22/PARA48 |
|
|
qualifying secondary activities |
FA00/SCH22/PARA47 |
|
|
qualifying ship |
FA00/SCH22/PARA19 onwards |
|
|
relevant activities (in relation to ‘dominant party’) |
FA00/SCH22/PARA126(3) |
|
|
relevant shipping income |
FA00/SCH22/PARA44(2) |
|
|
relevant shipping profits |
FA00/SCH22/PARA44(1) (also FA00/SCH22/PARA108(2)) |
|
|
renewal election |
FA00/SCH22/PARA15(1) |
|
|
ship |
FA00/SCH22/PARA142 |
|
|
shipping pool |
|
|
|
single company |
FA00/SCH22/PARA146 |
|
|
subject to Tonnage Tax |
FA00/SCH22/PARA2(2) |
|
|
the 75%; limit (on chartered-in tonnage) |
FA00/SCH22/PARA37 |
|
|
thick capitalisation |
|
|
|
time charter |
|
|
|
tonnage |
FA00/SCH22/PARA6(1) |
|
|
Tonnage Tax |
FA00/SCH22/PARA1(1) |
|
|
tonnage tax activities |
FA00/SCH22/PARA45 (and see FA00/SCH22/PARA108(1)) |
|
|
tonnage tax asset (in Parts VIII and XI) |
FA00/SCH22/PARA64 |
|
|
tonnage tax company |
FA00/SCH22/PARA2(1) |
|
|
tonnage tax election |
FA00/SCH22/PARA1(2) (also Part II) |
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|
tonnage tax group |
FA00/SCH22/PARA2(1) |
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|
tonnage tax pool (in Part IX) |
FA00/SCH22/PARA69 |
|
|
tonnage tax profits |
FA00/SCH22/PARA3 onwards (also Part XI) |
|
|
tonnage tax trade |
FA00/SCH22/PARA53(1) |
|
|
training commitment |
FA00/SCH22/PARA25 (and see FA00/SCH22/PARA27(4) & (5), and FA00/SCH22/PARA28(2)) |
|
|
Withdrawal Notice |
FA00/SCH22/PARA15A |
|
|
voyage charter |
|
|
|
Worldscale |
|
References
FA00/SCH22/PARA147
