THE REQUIREMENT THAT NOT MORE THAN 75% OF FLEET TONNAGE IS CHARTERED IN

Related Commentary  Related HMRC Manuals

37(1)  It is a requirement of entering or remaining within tonnage tax–

(a)in the case of a single company, that not more than 75% of the net tonnage of the qualifying ships operated by it is chartered in;

(b)in the case of a group, that not more than 75% of the aggregate net tonnage of the qualifying ships operated by the members of the group that are qualifying companies is chartered in.

37(2)  For this purpose a ship is “chartered in” –

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