TTM02170 - Tonnage tax elections: When to elect?
Window of opportunity when opportunity to elect under the merger provisions
Under FA00/SCH22/PARA123 (5) and PARA125 (3) of the group merger provisions, a 12-month window of opportunity may be given in certain circumstances for the new group to elect into tonnage tax, even though a constituent part of the new group may have chosen not to elect in when it first had the opportunity.
»Ê¹ÚÌåÓýapp window of opportunity in these circumstances is 12 months from the day of the merger. See TTM12340.
References
| FA00/SCH22/PARA123 (5) (merger between a tonnage tax company or group (T) and a qualifying non-tonnage tax group or company (QNT)) | TTM17691 |
| FA00/SCH22/PARA125 (3) (merger between a non-qualifying group or company (NQ) and QNT) | TTM17701 |