Article 3 Application of Part 2 of Schedule 22 to the Finance Act 2000 for the second further period

(1)

In the case of elections made during the second further period, Part 2 of Schedule 22 to the Finance Act 2000 (tonnage tax elections)^f1 applies as adapted by this article.

(2)

Paragraph 12 (when a tonnage tax election takes effect) has effect as if—

(a)

in sub-paragraph (2)—

(i)

after “A tonnage tax election” there were inserted “made during the second further period”;

(ii)

for “1st January 2000” there were substituted “1st January 2023”;

(b)

in sub-paragraph (3)—

(i)

for “before the end of the initial period” there were substituted “during the second further period”;

(ii)

for “1st January 2000” there were substituted “1st January 2023”;

(c)

in sub-paragraph (4) for “before the end of the initial period” there were substituted “during the second further period”;

(d)

after sub-paragraph (6) there were inserted—

“(7)

In this paragraph “the second further period” means the period provided for by article 2 of the Tonnage Tax (Further Opportunity for Election) Order 2023 (S.I. 2023/508).”.

Annotations

Footnotes

f1: Part 2 of Schedule 22 was amended by paragraphs 2 and 3 of Schedule 7 to the Finance Act 2005 (c. 7) and by section 25 of the Finance Act 2022 (c. 3). Part 2 of Schedule 22 was also adapted by S.I. 2005/1449 in the case of elections made during the “further period” specified in that Order (which was the period beginning on 1st July 2005 and ending on 31st December 2006).