Definition
The CT600F is the tonnage tax supplementary page to the Company Tax Return. A shipping company within a tonnage tax election uses it to report a notional profit based on the size of each ship, which is taxed in place of the profit its shipping trade actually made.
Who completes it
A company that operates or manages qualifying ships and is party to a tonnage tax election. The election is made separately with HMRC and normally lasts ten years; the page reports each year’s tonnage tax profits. Box 120 on the CT600 is ticked to say the page is attached.
What it asks for
- The election: whether it is a group election, the training certificate, the limit on chartered-in tonnage and the rules for offshore activities.
- The accounts figures: the profit or loss in the accounts from the tonnage tax activities, which is taken out of the trading profit.
- Each ship: its name, IMO number, tonnage and the days operated or managed, giving a daily profit based on its net tonnage.
- The total tonnage tax profits (F70), which go to box 200 on the CT600. No loss, relief or other deduction can be set against them.
In Tax Optimiser
Complete the page under Tonnage Tax in the Corp Tax workspace. The profit for each ship is worked out for you, and the CT600F is filed with the CT600.
Read more: CT600F and tonnage tax.