TTM14010 - Exiting tonnage tax: Types of exit
Expiry of election
An election into tonnage tax is for a minimum period of eight years. At the end of that period the company or group will leave tonnage tax. For a company, the date will be eight years from the election first taking effect (FA00/SCH22/PARA13 (1)(a)). For a group, the date will be eight years from the first day the election took effect for any group company (PARA13 (1)(b)).
»Ê¹ÚÌåÓýapp election period was reduced from ten years to eight by FA22/S25 (3) for elections made on or after 1 April 2022.
References
| FA00/SCH22/PARA13 (period for which election is in force) | TTM17061 |
|---|---|
| Period for which election is in force | TTM02500 |