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Finance Act 2000
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Part XVU.K. Supplementary provisions
Meaning of “ship"U.K.
142U.K.In this Schedule “ship” means any vessel used in navigation, and includes a hovercraft.
Meaning of “on bareboat charter terms"U.K.
143U.K.In this Schedule a charter “on bareboat charter terms” means a hiring of a ship for a stipulated period on terms which give the charterer possession and control of the ship, including the right to appoint the master and crew.
Meaning of “associate"U.K.
144(1)In this Schedule “associate”, in relation to an individual, means—U.K.
(a)a relative of that individual;
(b)a partner of that individual;
(c)the trustee or trustees of any settlement in relation to which—
(i)that individual, or
(ii)any relative (whether living or dead) of that individual,
is or was a settlor;
(d)where that individual is interested in any shares or obligations of a company that are subject to a trust, the trustee or trustees of the settlement concerned;
(e)where that individual is interested in any shares or obligations of a company that are part of the estate of a deceased person, the personal representatives of the deceased.
(2)In sub-paragraph (1)(a) and (c)(ii) “relative” means [F1spouse or civil partner], parent or remoter forebear, child or remoter issue, or brother or sister.
Section 831(4) of the Taxes Act 1988 applies for the purposes of this paragraph as it applies for the purposes of that Act.
(3)In sub-paragraph (1)(c) and (d) “settlement” and “settlor” have the same meaning as in [F2Chapter 5 of Part 5 of ITTOIA 2005 (see section 620 of that Act)].
Textual Amendments
F1Words in Sch. 22 para. 144(2) substituted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 133
F2Words in Sch. 22 para. 144(3) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 522 (with Sch. 2)
Exercise of functions conferred on “the Inland Revenue"U.K.
145(1)Any power to make regulations conferred by this Schedule on “the Inland Revenue" is exercisable only by the Board.U.K.
(2)Subject to that, references in this Schedule to “the Inland Revenue" are to any officer of the Board.
Meaning of “company" and related expressionsU.K.
146U.K.In this Schedule—
“company” means a body corporate or unincorporated association, but does not include a partnership;
“controlled foreign company” has the same meaning as in Chapter IV of Part XVII of the Taxes Act 1988 (tax avoidance: controlled foreign companies);
“single company” means a company that is not a member of a group.
Index of defined expressionsU.K.
147U.K.In this Schedule the following expressions are defined or otherwise explained by the provisions indicated:
| associate (of an individual) | paragraph 144 |
| bareboat charter terms | paragraph 143 |
| capital allowances (in Part IX) | paragraph 88(1) |
| certificate of non-compliance (with training requirement) | paragraph 32 |
| company | paragraph 146 |
| company election | paragraph 7(1)(a) |
| control | paragraph 118 (and see paragraph 117) |
| controlled foreign company | paragraph 146 |
| core qualifying activities | paragraph 46 |
| cost of providing the ship (in Part X) | paragraph 96 |
| demerger | paragraph 121(1) |
| dominant party (in relation to a merger) | paragraph 126 |
| entering (or leaving) tonnage tax | paragraph 2(2) |
| finance costs (in paragraphs 61 and 62) | paragraph 63 |
| F3. . . | F3. . . |
| group | paragraph 116 |
| group election | paragraph 7(1)(b) |
| initial period | paragraph 10(1) (and see paragraph 11(2)) |
| Inland Revenue | paragraph 145 |
| [F4lease (and lessor and lessee) (in Part X)] | [F4paragraph 89(2)] |
| leaving (or entering) tonnage tax | paragraph 2(2) |
| member of group | paragraph 116 |
| F5. . . | F5. . . |
| merger | paragraph 121(1) |
| minimum training obligation | paragraph 24 |
| offshore activities (in Part XI) | paragraph 104 |
| offshore profits (in Part XI) | paragraph 107(1) |
| payments in lieu of training | paragraph 29 |
| pooling and related expressions (in Parts IX, X and XI) | paragraph 88(2) and (3) |
| operating (a ship) | paragraph 18 |
| qualifying activity and qualifying expenditure (in Parts IX, X and XI) | paragraph 88(1) |
| qualifying company | paragraph 16(1) (and see paragraph 17) |
| [F6qualifying dredger] | [F6paragraph 20(7)] |
| qualifying group | paragraph 16(2) |
| qualifying incidental activities | paragraph 48 |
| qualifying secondary activities | paragraph 47 |
| qualifying ship | paragraphs 19 to 22 |
| [F7relevant register | paragraph 22B(6A)] |
| relevant shipping income | paragraph 44(2) |
| relevant shipping profits | paragraph 44(1) (and see paragraph 108(2)) |
| renewal election | paragraph 15(1) |
| the 75% limit (on chartered-in tonnage) | paragraph 37 |
| ship | paragraph 142 |
| single company | paragraph 146 |
| subject to tonnage tax | paragraph 2(2) |
| tonnage | paragraph 6(1) |
| tonnage tax | paragraph 1(1) |
| tonnage tax activities | paragraph 45 (and see paragraph 108(1)) |
| tonnage tax asset (in Parts VIII and XI) | paragraph 64 |
| tonnage tax company | paragraph 2(1) |
| tonnage tax election | paragraph 1(2) (and see Part II) |
| tonnage tax group | paragraph 2(1) |
| tonnage tax pool (in Part IX) | paragraph 69 |
| tonnage tax profits | paragraphs 3 to 5 (and see Part XI) |
| tonnage tax trade | paragraph 53(1) |
| training commitment | paragraph 25 (and see paragraphs 27(4) and (5) and 28(2)) |
Textual Amendments
F3Words in Sch. 22 para. 147 repealed (10.7.2003) (with effect in accordance with Sch. 32 para. 3 of the amending Act) by Finance Act 2003 (c. 14), Sch. 32 para. 2(2)(a), Sch. 43 Pt. 3(11) (with Sch. 32 para. 4)
F4Words in Sch. 22 para. 147 inserted (10.7.2003) (with effect in accordance with Sch. 32 para. 3 of the amending Act) by Finance Act 2003 (c. 14), Sch. 32 para. 2(2)(b) (with Sch. 32 para. 4)
F5Words in Sch. 22 para. 147 omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2020 (S.I. 2020/332), regs. 1, 2(8)(a)
F6Words in Sch. 22 para. 147 inserted (1.7.2005) by Finance Act 2005 (c. 7), Sch. 7 paras. 17(2), 18(1) (with Sch. 7 paras. 19-21)
F7Words in Sch. 22 para. 147 inserted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2020 (S.I. 2020/332), regs. 1, 2(8)(b)
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