Taxes Consolidation Act 1997 Schedule 18B paragraph 21

Company not to be treated as member of more than one group

Paragraph 21 sets out rules for determining which group a company belongs to where it could be treated as a member of more than one group under the tonnage tax provisions.

• A company that belongs to both a tonnage tax group and a non-tonnage tax group (which could elect for tonnage tax) is treated as a member of the tonnage tax group only.
• A company that belongs to two tonnage tax groups is treated as a member of the group whose tonnage tax election was made first.
• Where two tonnage tax elections were made at the same time, the company must choose which group it wishes to join.
• For all purposes of Part 24A and Schedule 18B, the company is treated as a member only of the group determined under these rules.