TTM10160 | Ship leasing: Defeased leasing

What to do with queries

HMRC officers who are asked whether FA00/SCH22/PARA90 will apply to deny capital allowances on the proposed finance lease of a qualifying ship to a tonnage tax company should obtain the full facts relating to the transaction and submit the case to the Tonnage Tax Technical Adviser.

The Tonnage Tax Technical Adviser will liaise with Counter Avoidance as necessary.

References