Computation of profit

Tonnage tax partner

For the purpose of calculating the profits of a tonnage tax company, the profits of a partnership are calculated as if the partnership were a tonnage tax company.

The profits calculated in this way are then apportioned to the company (and to any other tonnage tax partner) in the normal way, so that:

its share of any partnership tonnage tax profits is treated as (part of) its own tonnage tax profits,

an appropriate proportion of the partnership's ‘relevant shipping profits’ (see TTM06010) will be franked by those tonnage tax profits, and

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.