Capital Allowances Act 2001 (c. 2)

Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 5 U.K. Mineral extraction allowances

Chapter 1 U.K. Introduction

398 Relationship between main types of qualifying expenditure U.K.

Subject to [F1 section 396(2) and] Chapter 4, expenditure on—

(a) the acquisition of, or of rights over, the site of a source of mineral deposits, or

(b) the acquisition of, or of rights over, mineral deposits,

is to be treated as expenditure on acquiring a mineral asset and not as expenditure on mineral exploration and access.

Textual Amendments

F1 Words in s. 398 inserted (with effect in accordance with s. 68(4) of the amending Act) by Finance Act 2014 (c. 26), s. 68(3)