The Tonnage Tax (Training Requirement) (Amendment) Regulations 2002

Statutory Instruments

2002 No. 2265

TAXES

TONNAGE TAX

The Tonnage Tax (Training Requirement) (Amendment) Regulations 2002

Made

4th September 2002

Laid before Parliament

5th September 2002

Coming into force

1st October 2002

The Secretary of State for Transport, in exercise of the powers conferred by paragraphs 29, 31 and 36 of Schedule 22 to the Finance Act 2000(1) and of all other powers enabling him in that behalf, hereby makes the following Regulations—

Citation and commencement

1.  These Regulations may be cited as the Tonnage Tax (Training Requirement) (Amendment) Regulations 2002 and shall come into force on 1st October 2002.

Interpretation

2.  In these Regulations, “relevant four month period” means a period of four months commencing 1st October, 1st February or 1st June.

Payments in lieu of training

3.—(1) The Tonnage Tax (Training Requirement) Regulations 2000(2) shall be amended as follows.

(2) In regulation 15(1)(b), for “£562” there shall be substituted “£573”.

(3) In regulation 21(4), for “£512” there shall be substituted “£522”.

4.  These Regulations apply for the purpose of calculating the payments in lieu of training in respect of a relevant four month period falling on or after 1st October 2002.

Alistair Darling

Secretary of State,

Department for Transport

4th September 2002

Explanatory Note

(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 in lieu of training. In respect of a relevant four month period falling on or after 1st October 2002, the figure by which the number of months is to be multiplied is increased from £562 to £573. In the case of the higher rate of payment where there has been failure to meet the training requirement, the basic rate to be used in the calculations is increased from £512 to £522.

(1)

2000 c. 17.

(2)

S.I. 2000/2129, amended by S.I. 2001/3999.