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Chapter TTM03060

Document Cited in Related
Vincent
Published date19 March 2016
Record NumberTTM03060
CourtHM Revenue & Customs
IssuerHM Revenue & Customs

An election to remain in tonnage tax even though no qualifying ships are operated (see TTM03050) will end if and when the company:

  • abandons its intention to resume operating qualifying ships, or
  • begins to operate qualifying ships again

If the cessation lasts for more than 3 months it should be assumed that the cessation is permanent (i.e. that the company has abandoned its intention to resume operating qualifying ships) unless there is evidence to the contrary.

If the company is a singleton company, or if it is the only qualifying company in the group, the cessation provisions (see TTM14001 onwards) will apply from the date that the notice is rescinded or three months after the company...

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