Statutory Instruments
Taxes
Tonnage Tax
Made
8th September 2014
Laid before the House of Commons
10th September 2014
Coming into force
1st October 2014
The Secretary of State, in exercise of the powers conferred by paragraphs 29, 31 and 36 of Schedule 22 to the Finance Act 2000(1), makes the following Regulations:
1. These Regulations may be cited as the Tonnage Tax (Training Requirement) (Amendment) Regulations 2014 and they come into force on 1st October 2014.
2.—(1) These Regulations apply for the purposes of calculating the payments in lieu of training for the purposes of the Tonnage Tax (Training Requirement) Regulations 2000(2) (“the 2000 Regulations”) in respect of a relevant four month period falling after 30th September 2014.
(2) In paragraph (1), “a relevant four month period” means a period of four months commencing on 1st February, 1st June or 1st October in any year.
3.—(1) The 2000 Regulations are amended as follows.
(2) In regulation 15(1)(b) (payments in lieu of training) for “£1,176” substitute “£1,202”.
(3) In regulation 21(4) (higher rate of payment in case of failure to meet training requirement) for “£1,094” substitute “£1,119”.
Signed by authority of the Secretary of State for Transport
John Hayes
Parliamentary Under Secretary of State
Department for Transport
8th September 2014
(This note is not part of the Regulations)
These Regulations further amend the Tonnage Tax (Training Requirement) Regulations 2000 by increasing the amount of the payments which fall to be made in lieu of training.
In respect of each eligible officer trainee for whom training is required to be provided under those Regulations, there is to be an increase from £1,176 to £1,202 in the amount payable for each month during a relevant four month period, commencing on or after 1st October 2014, in which the training commitment of a company or group provides for payment in lieu of training or the company or group does not provide training in accordance with the training commitment.
Where a company or group is treated as having failed to meet its training commitment and the higher rate of payment applies, the basic rate which is used to calculate the higher rate, is increased from £1,094 to £1,119.
A full impact assessment of the effect that these Regulations will have on the costs of business and the voluntary sector is available from the Department for Transport, Great Minster House, 33 Horseferry Road, London SW1P 4DR and is published with the Explanatory Memorandum alongside these Regulations at www.legislation.gov.uk.
S.I.2000/2129, amended by S.I. 2013/2245, there are other amending instruments but none is relevant.