CHARGEABLE GAINS: TONNAGE TAX ASSETS

Related Commentary  Related HMRC Manuals

64(1)  In this Part of this Schedule a “tonnage tax asset”  means an asset that is used wholly and exclusively for the purposes of the tonnage tax activities of a tonnage tax company.

64(2)  Where for one or more continuous periods of at least a year part of an asset has been used wholly and exclusively for the purposes of the tonnage tax activities of a tonnage tax company and part has not, this Part of this Schedule shall apply as if the part so used were a separate asset.

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