TTM18006 - Tonnage Tax Regulations 2000: Regulation 6
Long-life assets - writing-down basis
SI00/2303/REG6
(1) This regulation applies to long-life assets described in regulation 4(1)(b).
(2) The written down value of the paragraph 85(2)(a) amount for the asset shall be determined by multiplying that amount by the percentage given by the table in paragraph (3).
(3) That table is as follows -
|
Length of qualifying holding period for the asset |
Percentage of the paragraph 85(2)(a) amount which is qualifying expenditure under Part II of the 1990 Act |
|
Less than or equal to 1 year |
94 |
|
From 1 year and one day to 2 years |
88 |
|
From 2 years and one day to 3 years |
83 |
|
From 3 years and one day to 4 years |
78 |
|
From 4 years and one day to 5 years |
73 |
|
From 5 years and one day to 6 years |
69 |
|
From 6 years and one day to 7 years |
65 |
|
From 7 years and one day to 8 years |
61 |
|
From 8 years and one day to 9 years |
57 |
|
From 9 years and one day to 10 years |
54 |
|
From 10 years and one day to 11 years |
51 |
|
From 11 years and one day to 13 years |
47 |
|
From 13 years and one day to16 years |
40 |
|
From 16 years and one day to19 years |
33 |
|
From 19 years and one day to 22 years |
27 |
|
From 22 years and one day to 25 years |
23 |
|
From 25 years and one day to 30 years |
18 |
|
From 30 years and one day to 35 years |
13 |
|
From 35 years and one day to 40 years |
10 |
|
From 40 years and one day to 45 years |
7 |
|
From 45 years and one day to 50 years |
5 |
|
From 50 years and one day to 60 years |
3 |
|
From 60 years and one day to 70 years |
2 |
|
More than 70 years |
Nil |
References
|
Qualifying expenditure on exit |
|
|
Long-life assets |
