Market leading insight for tax experts
View online issue

Unicorn Tankships: tonnage tax and balancing charges

Speed read
In Unicorn Tankships, the Upper Tribunal dismissed HMRC’s appeal that a balancing charge should arise on the sale of a vessel following the company’s departure from the tonnage tax regime. Whilst the decision may only be of immediate relevance to shipping companies, the case highlights difficulties in interpretation when separate elements of the legislation interact with each other.

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.