TTM09110 | Capital allowances: During tonnage tax (P&M)

Change of use of tonnage tax asset: General

A company may start to use an asset, previously wholly used in its tonnage tax trade, wholly or partly for another purpose whilst the company is still within tonnage tax.

In such a case, the capital allowances consequences depend on whether or not the asset in question was acquired before the company entered tonnage tax, and thus whether or not any expenditure in respect of that asset went into the tonnage tax pool.

See TTM09120for assets acquired before entry.

See TTM09130for assets acquired after entry.

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