# Finance Act 2000, Paragraph 66


A tonnage tax election does not affect the deduction under section 8(1) of the Taxation of Chargeable Gains Act 1992 (corporation tax: computation of chargeable gains) of allowable losses that accrued to a company before it became a tonnage tax company.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/66 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-66
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.