TTM12410 | Tonnage tax groups: Demerger

Effect

Where that group had elected for tonnage tax, any singleton qualifying company, or new group that contains a qualifying company, resulting from a demerger of the original tonnage tax group, remains a tonnage tax company or group. A deemed election continues in force and expires at the same time the original group election would have expired (FA00/SCH22/PARA127 and PARA128).

References