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P&O Ferries: Tonnage Tax

Treasury written question – answered at on 13 May 2022.

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Photo of Grahame Morris Grahame Morris Labour, Easington

To ask the Chancellor of the exchequer, if he will review P&O Ferries' eligibility for Tonnage Tax concession from Corporation Tax.

Photo of Helen Whately Helen Whately The Exchequer Secretary

HMRC oversees the tonnage tax regime. HMRC has a statutory duty of taxpayer confidentiality and cannot comment on the affairs of individual taxpayers.

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Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.