Modifications etc. (not altering text)
C1Sch. 22 Pt. 2 applied (with modifications) (1.6.2023) by The Tonnage Tax (Further Opportunity for Election) Order 2023 (S.I. 2023/508), arts. 1, 3
15[F1(1)A further tonnage tax election (a “renewal election”) may be made in respect of a single company or group if—U.K.
(a)at the time it is made, a tonnage tax election is in force in respect of the company or group, or
(b)it is a bridging renewal election (see paragraph 15ZA).]
(2)This is subject to paragraph 32(5) (training requirement: no renewal election if non-compliance notice in force).
(3)The provisions of—
paragraphs 7 to 9 (type of election, method of election and person by whom election to be made), and
paragraphs 13 and 14 (period for which election is in force and when election ceases to have effect),
apply in relation to a renewal election as they apply in relation to an original tonnage tax election.
(4)A renewal election supersedes the existing tonnage tax election.
Textual Amendments
F1Sch. 22 para. 15(1) substituted (1.4.2022) by Finance Act 2022 (c. 3), s. 25(4)(11)