Commentary

D7.1019 Leaving tonnage tax

Corporate tax
Corporate tax | Commentary

D7.1019 Leaving tonnage tax

Corporate tax | Commentary

D7.1019 Leaving tonnage tax

Exit charges are imposed where a company ceases to be a tonnage tax company for reasons relating wholly or mainly to tax, or is excluded because it has entered into tax avoidance arrangements (see D7.1020). HMRC have indicated that they will not seek to apply exit charges if the company:

  1.  

    (a)     has reached the natural expiry date of its election. This will hold even if the reason that the company chooses not to renew its election is 'relating wholly or mainly to tax' (for instance, if the reason for not renewing is that it wishes to

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