SolvedTTM12220 | Tonnage tax groups: Group arrangements
From HM Revenue & Customs · Tonnage Tax Manual
Matters covered
A group arrangement will normally cover the following matters:
Dealing with HMRC on behalf of group companies in respect of non-statutory business clearances.
Dealing with HMRC on behalf of group companies in respect of the tonnage tax election and renewal elections.
Making notifications on behalf of group companies regarding whether the 75% limit on chartering in (FA00/SCH22/PARA37) has been exceeded.
Making any appeal under FA00/SCH22/PARA43 against an exclusion from tonnage tax notice.
Preparing and negotiating with HMRC calculations required under PARA62 (finance costs).
Dealing with the HMRC on matters arising under PARA126 (4), regarding dominant party on a merger, and making any appeal under PARA126 (5) against HMRC determination.
Making notifications under PARA129, duty to notify HMRC of group changes.
The provision of any other information in relation to the tonnage tax regime, which it would be expedient to be provided on a group-wide basis.
It will not affect the requirement that an election be made jointly by all qualifying companies in a tonnage tax group, or any liability of a particular company under any provision of the Taxes Acts.