TTM02190 - Further opportunity to elect: Further window of opportunity 1 July 2005 to 31 December 2006
By means of a Treasury order made on 6 June 2005 (TTM20024) a further window for elections into TT was allowed. Elections made during the new window will have effect in accordance with the general rule in paragraph 12(1).
There are a number of exceptions to the general rule:
See TTM02210 for backdating the date of entry
See TTM02220 for deferring the date of entry for one AP
See TTM02230 for deferring the date of entry for two APs
A Tonnage Tax election made during the new window cannot have effect in relation to an accounting period beginning before 1 January 2005. If the general rule would produce that effect, the election has effect instead from the beginning of the accounting period following that in which it is made.
The Tonnage Tax (Further Opportunity for Election) Order 2005 S1 2005 No 1449