# Finance Act 2000, Paragraph 78


(1) The amount of any balancing charge under this Part of this Schedule is reduced by reference to the number of whole years the company has been subject to tonnage tax at the time of the disposal event giving rise to the charge.
(2) The following table shows the percentage reduction:
Number of years
Percentage reduction
1
15%
2
30%
3
45%
4
60%
5
75%
6
90%
7 or more
100%

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/78 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-78
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.