SCHEDULES

SCHEDULE 22 Tonnage tax

Part X The ring fence: capital allowances: ship leasing

F1Lease to tonnage tax company or group

91B

(1)

A lease falls within this paragraph if—

(a)

it is a lease of a qualifying ship provided directly to a company within tonnage tax, or

(b)

it is a lease of a qualifying ship provided indirectly to a company within tonnage tax (“T”) and sub-paragraph (2) applies.

(2)

This sub-paragraph applies where—

(a)

the owner of the qualifying ship provides it directly to a company (“C”) under a lease,

(b)

C provides the qualifying ship directly to T under a lease, and

(c)

C and T are in the same group.