CT600F Tonnage Tax

CT600F Tax Return Form for Tonnage Tax

A company operating ships and electing for Tonnage Tax regime will also need to complete CT600F Tonnage Tax section.

When you have completed these supplementary pages

Copy the figure from box F70 to box 200 of the form CT600. Include any figure from box F45 in box 450 of the form CT600.

Tonnage Tax information for this period

F5A and F5B Tonnage Tax group election
Put an 'X' in the relevant box. If the company was party to a tonnage tax election complete box F10. If no complete boxes F18 or F15B.

Tonnage Tax group election must be made jointly by all qualifying companies in the group.

F10 Tonnage Tax group

Enter the name of the Tonnage Tax group of which the company was a member at the end of the accounting period. The qualifying companies in a group may nominate one group company to deal with those matters concerning Tonnage Tax that are more conveniently dealt with on a group-wide basis, including the 75% limit on chartered-in tonnage. Where a group wishes to make such an arrangement, all qualifying companies should jointly sign a letter nominating one of the companies as the representative company and specifying the matters that it will handle on behalf of the whole group.

Offshore training allowance

F45 and F50 Training Allowance (Offshore)
A company that falls within Part XI of Schedule 22 FA 2000 is allowed to offset the cash equivalent of training or any payments in lieu of training against its Corporation Tax liability on its profits from offshore activities.

Relevant shipping profits

The following additional information about relevant shipping profits to assist HMRCs administration of Tonnage Tax

F55A / F55B The profit or loss in the company’s accounts.
Do not include other non-tonnage tax profits or losses included elsewhere on form CT600

Computation of Tonnage Tax profits

You must enter details of all qualifying ships.

F70 Computation of Tonnage Tax profits
A qualifying ship must be a seagoing ship of 100 gross tons or more used for the carriage of passengers or cargo, towage, salvage or other marine assistance, or transport in connection with other services of a kind necessarily provided at sea. Specifically excluded are fishing vessels or factory ships, pleasure craft, harbour or river ferries, offshore installations, tankers dedicated to a particular oil field and dredgers.

HMRC have provided following Company tax return guide to form CT600 (2020) Version 3 for accounting periods starting on or after 1 April 2015 to assist Companies complete the Corporation tax returns. Further information can also be found on GOV.UK website.