The UK’s Tonnage Tax is a competitive alternative method of calculating Corporation Tax profits. It refers to the net tonnage of the ship operated. Profit replaces both the tax-adjusted commercial profit or loss on a shipping trade and the chargeable gains or losses made on tonnage tax assets. Other profits of a Tonnage Tax company are taxable in the normal way.

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Companies within Corporation Tax, which operate qualifying ships that are "strategically and commercially managed in the UK", can take advantage of the Tonnage Tax. 

Since it was introduced in 2000, Tonnage Tax has encouraged many owners and operators to relocate to the UK, where they have access to our range of maritime professional services.

SMaRT Funding

Support for Maritime Training (SMarT) is a government funded scheme created to increase the number of qualified seafarers in the UK maritime industry (The Support for Maritime Training Scheme must comply with UK Subsidy Control Regulations from January 2021).

Any Cadet meeting the requirements set out in MGN 455, or subsequent publication, enrolling or currently enrolled on a course at an Maritime & Coastguard Agency (MCA) approved nautical college for an MCA approved academic qualification of level 4, or above, will be eligible to receive 50% subsidy of the associated training costs.

A full list of scheme requirements, as well as information about the application process can be found in MGN 455 and MIN 678.