TTM17106 - Schedule 22 Finance Act 2000: Qualifying Companies and Groups

Vessels excluded from being qualifying shipsFA00/SCH22/PARA20

(1) The following kinds of vessel are not qualifying ships for the purposes of this Schedule—

(a) fishing vessels or factory ships;

(b) pleasure craft;

(c) harbour or river ferries;

(d) offshore installations;

(e) tankers dedicated to a particular oil field;

(f) dredgers other than qualifying dredgers (*1)

(2) In sub-paragraph (1)(a) “factory ship” means a vessel providing processing services for the fishing industry.

(3) In sub-paragraph (1)(b) “pleasure craft” means a vessel of a kind whose primary use is for the purposes of sport or recreation.

(4) In sub-paragraph (1)(c) “harbour or river ferry” means a vessel used for harbour, estuary or river crossings.

(5) ...(*2)

(6) For the purposes of sub-paragraph (1)(e) whether a tanker is dedicated to a particular oil field shall be determined in accordance with section 2 of the Oil Taxation Act 1983 (dedicated mobile assets).

(7) In this Schedule “qualifying dredger” means a dredger which—

(a) is self-propelled, and

(b) is constructed or adapted for the carriage of cargo;

(but see further paragraph 20A). (*1)

References

*1TTM20005: Sub-para (1)(f) (which formerly read “dredgers”) substituted and sub-paras (7) inserted by FA 2005 s 93, Sch 7 paras 5, 18(1) 

TTM20018 with effect from 1 July 2005,

TTM20019 -20021 - transitional provisions under FA 2005 Sch 7 paras 19-21.

*2 Sub-para (5) repealed by FA 2004 ss 146, 326, Sch 27 para 7, Sch 42 Pt 2(19) with effect for accounting periods ending after 31 March 2004.