Written Question·Treasury·UIN 23115

Shipping: Tonnage Tax

Tabled: 10 January 2025

Answered: 15 January 2025

Named Day

Question

John McDonnell

To ask the Chancellor of the Exchequer, with reference to the update to Non-structural tax relief statistics, published on 5 December 2024, if she will provide an annual breakdown of the relief from Corporation Tax received by qualifying shipowners in the

Answer

James Murray

Tonnage Tax is an advantageous corporation tax regime for shipping companies. It was introduced in 2000 to improve the competitiveness of the UK’s shipping industry. As set out on GOV.UK, the Government forecasts that the cost of the regime in 2024-25 w...

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