TTM14200 - Exiting tonnage tax: Effects of exiting tonnage tax regime
Exit charge: General
»Ê¹ÚÌåÓýapp exit charge only applies where a company, or
group of companies, ceases to be qualifying for reasons relating wholly or
mainly to tax, see TTM14120, or an exclusion for tax avoidance,
see TTM05530. »Ê¹ÚÌåÓýapp case should have previously
been submitted to the Tonnage Tax Technical Adviser, see TTM14120.
»Ê¹ÚÌåÓýapp charge consists of re-instating chargeable gains and balancing charges on
the tonnage tax company, if a singleton company, or on all tonnage companies in
the group, if a tonnage tax group.
References
| Guidance | Page |
|---|---|
| FA00/SCH22/PARA137 (company ceases to be tonnage tax company) | TTM17761 |
| Exit charge: chargeable gains | TTM14210 |
| Exit charge: balancing charges | TTM14220 |