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.

References