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Tonnage tax

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The Tonnage Tax (Training Requirement) (Amendment etc.) Regulations 2018, SI 2018/971, increase the amount of the payments that companies within the tonnage tax regime are obliged to make to eligible officer trainees in lieu of training, with effect from 1 October 2018.

The amount payable for each month during a relevant four-month period commencing on or after 1 October 2018 increases from £1,259 to £1,284.

Where a company or group is treated as having failed to meet its training commitment and the higher rate of payment applies, the basic rate which is used to calculate the higher rate is increased from £1,172 to £1,195.

Issue: 1412
Categories: News