PART IV PROVISIONS RELATING TO THE SCHEDULE D CHARGE
CHAPTER VIII MISCELLANEOUS AND SUPPLEMENTAL
121 Management expenses of owner of mineral rights.
F1M11
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
In computing for the purposes of corporation tax the income of a company for any accounting period from the letting of rights to work minerals in the United Kingdom, there may be deducted any sums disbursed by the company wholly, exclusively and necessarily as expenses of management or supervision of those minerals in that period.