142U.K.In this Schedule “ship” means any vessel used in navigation, and includes a hovercraft.
143U.K.In this Schedule a charter “on bareboat charter terms” means a hiring of a ship for a stipulated period on terms which give the charterer possession and control of the ship, including the right to appoint the master and crew.
144(1)In this Schedule “associate”, in relation to an individual, means—U.K.
(a)a relative of that individual;
(b)a partner of that individual;
(c)the trustee or trustees of any settlement in relation to which—
(i)that individual, or
(ii)any relative (whether living or dead) of that individual,
is or was a settlor;
(d)where that individual is interested in any shares or obligations of a company that are subject to a trust, the trustee or trustees of the settlement concerned;
(e)where that individual is interested in any shares or obligations of a company that are part of the estate of a deceased person, the personal representatives of the deceased.
(2)In sub-paragraph (1)(a) and (c)(ii) “relative” means husband or wife, parent or remoter forebear, child or remoter issue, or brother or sister.
Section 831(4) of the Taxes Act 1988 applies for the purposes of this paragraph as it applies for the purposes of that Act.
(3)In sub-paragraph (1)(c) and (d) “settlement” and “settlor” have the same meaning as in Chapter IA of Part XV of the Taxes Act 1988 (see section 660G(1) and (2) of that Act).
145(1)Any power to make regulations conferred by this Schedule on “the Inland Revenue" is exercisable only by the Board.U.K.
(2)Subject to that, references in this Schedule to “the Inland Revenue" are to any officer of the Board.
146U.K.In this Schedule—
“company” means a body corporate or unincorporated association, but does not include a partnership;
“controlled foreign company” has the same meaning as in Chapter IV of Part XVII of the Taxes Act 1988 (tax avoidance: controlled foreign companies);
“single company” means a company that is not a member of a group.
147U.K.In this Schedule the following expressions are defined or otherwise explained by the provisions indicated:
| associate (of an individual) | paragraph 144 |
| bareboat charter terms | paragraph 143 |
| capital allowances (in Part IX) | paragraph 88(1) |
| certificate of non-compliance (with training requirement) | paragraph 32 |
| company | paragraph 146 |
| company election | paragraph 7(1)(a) |
| control | paragraph 118 (and see paragraph 117) |
| controlled foreign company | paragraph 146 |
| core qualifying activities | paragraph 46 |
| cost of providing the ship (in Part X) | paragraph 96 |
| demerger | paragraph 121(1) |
| dominant party (in relation to a merger) | paragraph 126 |
| entering (or leaving) tonnage tax | paragraph 2(2) |
| finance costs (in paragraphs 61 and 62) | paragraph 63 |
| finance lease (and lessor and lessee) (in Part X) | paragraph 89(2) |
| group | paragraph 116 |
| group election | paragraph 7(1)(b) |
| initial period | paragraph 10(1) (and see paragraph 11(2)) |
| Inland Revenue | paragraph 145 |
| leaving (or entering) tonnage tax | paragraph 2(2) |
| member of group | paragraph 116 |
| merger | paragraph 121(1) |
| minimum training obligation | paragraph 24 |
| offshore activities (in Part XI) | paragraph 104 |
| offshore profits (in Part XI) | paragraph 107(1) |
| payments in lieu of training | paragraph 29 |
| pooling and related expressions (in Parts IX, X and XI) | paragraph 88(2) and (3) |
| operating (a ship) | paragraph 18 |
| qualifying activity and qualifying expenditure (in Parts IX, X and XI) | paragraph 88(1) |
| qualifying company | paragraph 16(1) (and see paragraph 17) |
| qualifying group | paragraph 16(2) |
| qualifying incidental activities | paragraph 48 |
| qualifying secondary activities | paragraph 47 |
| qualifying ship | paragraphs 19 to 22 |
| relevant shipping income | paragraph 44(2) |
| relevant shipping profits | paragraph 44(1) (and see paragraph 108(2)) |
| renewal election | paragraph 15(1) |
| the 75% limit (on chartered-in tonnage) | paragraph 37 |
| ship | paragraph 142 |
| single company | paragraph 146 |
| subject to tonnage tax | paragraph 2(2) |
| tonnage | paragraph 6(1) |
| tonnage tax | paragraph 1(1) |
| tonnage tax activities | paragraph 45 (and see paragraph 108(1)) |
| tonnage tax asset (in Parts VIII and XI) | paragraph 64 |
| tonnage tax company | paragraph 2(1) |
| tonnage tax election | paragraph 1(2) (and see Part II) |
| tonnage tax group | paragraph 2(1) |
| tonnage tax pool (in Part IX) | paragraph 69 |
| tonnage tax profits | paragraphs 3 to 5 (and see Part XI) |
| tonnage tax trade | paragraph 53(1) |
| training commitment | paragraph 25 (and see paragraphs 27(4) and (5) and 28(2)) |