SI 2021/1030 – The Tonnage Tax (Training Requirement) (Amendment etc.) Regulations 2021

Released 10 September 2021

SI 2021/1030 amends SI 2000/2129 to increase amounts payable to the Maritime Training Trust in lieu of training from 1 October 2021.

The Tonnage Tax (Training Requirement) (Amendment etc.) Regulations 2021 further amend the Tonnage Tax (Training Requirement) Regulations 2000 (SI 2000/2129) by increasing the amount of the payments which fall to be made in lieu of training and which are payable to the Maritime Training Trust. Payments are to be made in lieu of training where the training commitment of a company or group provides for such payments, or where the company or group does not provide training in accordance with the training commitment as described in the Finance Act 2000, Sch. 22, para. 25. The amount payable for each month during a relevant four month period commencing on or after 1 October 2021 in respect of the training requirement is increased from £1,309 to £1,326.  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 £1,218 to £1,234. The regulations come into force on 1 October 2021.

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