The Tonnage Tax (Exception of Financial Year 2007) Order 2007

• Citation: S.I. 2007/850
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Tonnage Tax (Exception of Financial Year 2007) Order 2007 and shall come into force on 1st April 2007.

Section 2 Prescribed three year period and other definitions

For the purposes of this Order—

(a) the period prescribed for the purposes of paragraph 22C(1)(a) of Schedule 22 to the Finance Act 2000 (three year period to determine whether the percentage of the tonnage tax fleet which is Community-flagged has not decreased) is the period beginning on 2nd October 2003 and ending on 1st October 2006;

(b) “the tonnage tax fleet” means qualifying ships operated by single companies or qualifying companies which are members of a tonnage tax group; and

(c) “the percentage of the tonnage tax fleet which is Community-flagged” is—

C F T T T × 100

where—

CFT is the aggregate tonnage of qualifying ships registered in one of the Member States’ registers,

TT is the aggregate tonnage of all qualifying ships, and

no qualifying ship is counted more than once in determining an aggregate.

Section 3 Exception of financial year 2007

The financial year 2007 is designated as one in relation to which paragraph 22A of Schedule 22 to the Finance Act 2000 is not to have effect.