Finance Act 2000 (c. 17)

SCHEDULES

SCHEDULE 22 U.K. Tonnage tax

Part XIII U.K. Application of provisions to partnerships

Calculation of partnership profits U.K.

131 U.K. The regulations may provide that—

(a) for the purpose of calculating the profits of a partner which is a tonnage tax company, the profits of the partnership shall be calculated as if the partnership were a tonnage tax company, and

(b) for the purpose of calculating the profits of a partner which is not a tonnage tax company, the profits of the partnership shall be calculated as if the partnership were not a tonnage tax company.