{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-138",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-138.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/22/paragraph/138",
  "kind": "paragraph",
  "number": "138",
  "heading": null,
  "text": "(1) Paragraph 65(1)(a) (chargeable gain: disposal of tonnage tax assets) has effect in relation to gains (but not losses) on all relevant disposals as if the company had never been a tonnage tax company.\n(2) For this purpose a “relevant disposal” means a disposal—\n(a) on or after the day on which the company ceases to be a tonnage tax company, or\n(b) at any time during the period of six years immediately preceding that day when the company was a tonnage tax company.\n(3) Where sub-paragraph (1) operates to increase the amount of the chargeable gain on a disposal made at a time within the period mentioned in sub-paragraph (2)(b), the gain is treated to the extent of the increase—\n(a) as arising immediately before the company ceased to be a tonnage tax company, and\n(b) as not being relevant shipping profits of the company.\n(4) No relief, deduction or set-off of any description is allowed against the amount of that increase or the corporation tax on that amount.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/138",
    "retrieved_at": "2026-10-29T09:21:00.128981+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}