D7.1013 Tonnage tax profits
The tonnage tax regime operates by charging tonnage tax profits (below) to corporation tax and excluding relevant shipping profits (D7.1014) from the charge to corporation tax. The tonnage tax regime is very tightly ring fenced to ensure that only income and expenses that properly belong to the ship operation or management trade are included within relevant shipping profits, and that all other income and expenses are taxed under the normal corporation tax rules (see D7.1015–D7.1020).
Calculation of tonnage tax profits
For each ship there is a fixed profit per day per 100 net tons (rounded down to the nearest 100 tons). This is calculated in accordance with the following table1.
| Tonnage | Amount per day per 100 tons
(£) |
| Operated |
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 14:57