TTM17291 - Schedule 22 Finance Act 2000: Relevant Shipping Profits

Relevant shipping income: Certain interest etcFA00/SCH22/PARA50

(1) Income to which this paragraph applies is relevant shipping income only to the extent that it would apart from this Schedule fall to be taken into account as trading income from a trade consisting of the company's tonnage tax activities.

(2) This paragraph applies to-

(a) anything giving rise to a credit that would fall to be brought into account for the purposes of Chapter II of Part IV of the Finance Act 1996 (loan relationships);and

(c) any credit falling to be brought into account under Sch 26 to the Finance Act 2002(derivative contracts).

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