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Changes over time for: Paragraph 13


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 07/04/2005
Status:
Point in time view as at 28/07/2000.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2000, Paragraph 13.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
13(1)The general rule is that a tonnage tax election remains in force until it expires at the end of the period of ten years beginning—U.K.
(a)in the case of a company election, with the first day on which the election has effect in relation to the company;
(b)in the case of a group election, with the first day on which the election has effect in relation to any member of the group.
This is subject to the following exceptions.
(2)A tonnage tax election ceases to be in force—
(a)in the case of a company election, if the company ceases to be a qualifying company;
(b)in the case of a group election, if the group ceases to be a qualifying group.
(3)A tonnage tax election may also cease to be in force under—
(a)the provisions of Part V of this Schedule, or
(b)the provisions of Part XII of this Schedule relating to mergers and demergers.
(4)This paragraph has effect subject to paragraph 15(4) (election superseded by renewal election).
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