# Finance Act 2000, Paragraph 53


(1) The tonnage tax activities of a tonnage tax company are treated for corporation tax purposes as a separate trade (the company’s “tonnage tax trade”) distinct from all other activities carried on by the company.
(2) Sub-paragraph (1) shall not be read as requiring a company to be treated—
(a) as setting up and commencing a new trade on entry into tonnage tax, or
(b) as permanently ceasing to carry on a trade on leaving tonnage tax.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/53 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-53
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.