- Latest available (Revised)
- Original (As made)
The Tonnage Tax (Prescribed and Specified Matters) Regulations 2019
You are here:
- UK Statutory Instruments
- 2019 No. 398
- Whole Instrument
- Previous
- Next
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Statutory Instruments
2019 No. 398
Corporation Tax
Tonnage Tax
The Tonnage Tax (Prescribed and Specified Matters) Regulations 2019
Made
28th February 2019
Laid before the House of Commons
1st March 2019
Coming into force
22nd March 2019
The Treasury make these Regulations in exercise of the powers conferred by paragraph 22C(1)(a), (2)(a) and (7) of Schedule 22 to the Finance Act 2000(1).
Citation, commencement and interpretation
1.—(1) These Regulations may be cited as the Tonnage Tax (Prescribed and Specified Matters) Regulations 2019 and come into force on 22nd March 2019.
(2) In these Regulations “the Schedule” means Schedule 22 to the Finance Act 2000.
Prescribed three year period
2. For the purposes of paragraph 22C(1)(a) of the Schedule, the prescribed three year period is the period beginning on 2nd October 2015 and ending on 1st October 2018.
Percentage of the tonnage tax fleet which is Community-flagged
3. For the purposes of paragraph 22C(1)(a) of the Schedule, “the percentage of the tonnage tax fleet which is Community-flagged” means the percentage determined under paragraph 22B(3) of the Schedule for all companies to which the Schedule applies.
Revocation
4. The Tonnage Tax (Prescribed and Specified Matters) Regulations 2018(2) are revoked.
Rebecca Harris
Jeremy Quin
Two of the Lords Commissioners of Her Majesty’s Treasury
28th February 2019
EXPLANATORY NOTE
(This note is not part of the Regulations)
The tonnage tax regime is a system of taxation for shipping companies provided for by section 82 of, and Schedule 22 to, the Finance Act 2000 (c. 17).
Paragraph 8 of Schedule 7 to the Finance Act 2005 (c. 7) introduced changes to the tonnage tax regime, in order to comply with the (then) European Community guidelines on State aid to maritime transport. Schedule 22 to the Finance Act 2000 was amended to include a general requirement that ships entering the tonnage tax regime should in future be Community-flagged (registered in the European Union or European Economic Area).
Paragraph 22B(2) of Schedule 22 gives the Treasury the power to make an Order disapplying that requirement on a year-by-year basis. Before such an Order can be made, paragraph 22C(1)(a) requires the Treasury to be satisfied that the percentage of the tonnage tax fleet which is Community-flagged has not decreased on average over a three year period. For the purposes of meeting that condition, regulation 2 prescribes as the three year period the period beginning on 2nd October 2015 and ending on 1st October 2018. Regulation 3 also specifies the meaning of percentage of the tonnage tax fleet which is Community-flagged in relation to the prescribed period. Regulation 4 revokes the Tonnage Tax (Prescribed and Specified Matters) Regulations 2018.
A Tax Information and Impact Note has not been produced for this instrument as it contains no substantive changes to tax policy.
(1)
2000 c. 17; paragraph 22C was inserted by paragraph 8 of Schedule 7 to the Finance Act 2005 (c. 7).
(2)
Options/Help
Print Options
PrintThe Whole Instrument
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.