# Finance Act 2000, Paragraph 5


(1) If two or more companies fall to be regarded as operators of a ship by virtue of a joint interest in the ship, or in an agreement for the use of the ship, the tonnage tax profits of each are calculated as if each were entitled to a share of the profits proportionate to its share of that interest.
(2) If two or more companies fall to be treated as the operator of a ship otherwise than as mentioned in sub-paragraph (1), the tonnage tax profits of each are computed as if each were the only operator.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.