Corporation Tax Act 2009 (c. 4)

Part 4 U.K. Property income

Chapter 7 U.K. Rent receivable in connection with a UK section 39(4) concern

Management expenses of owner of mineral rights U.K.

272 Deduction for management expenses of owner of mineral rights U.K.

(1) This section applies if in an accounting period—

(a) a company lets a right to work minerals in the United Kingdom, and

(b) the company pays a sum wholly and exclusively as an expense of management or supervision of the minerals in the accounting period.

(2) In calculating the amount of rent receivable in connection with a UK section 39(4) concern, a deduction is allowed for the sum for the accounting period.

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 272(3) omitted (with effect in accordance with Sch. 39 para. 44(3) of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 39 para. 44(2)