Exit charges are imposed where a company ceases to be a tonnage tax company for reasons relating wholly or mainly to tax, or is excluded because it has entered into tax avoidance arrangements (see D7.1020). HMRC has indicated that exit charges will not normally be applied if the company:
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•ÌýÌýÌýÌý has reached the natural expiry date of its election. This will hold even if the reason that the company chooses not to renew its election is 'relating wholly or mainly to tax' (for instance, if the reason for
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