PART IV PROVISIONS RELATING TO THE SCHEDULE D CHARGE

CHAPTER I SUPPLEMENTARY CHARGING PROVISIONS

55 Mines, quarries and other concerns.

1

F1profits arising out of land in the case of any concern specified in subsection (2) below shall be charged to F2corporation tax under Case I of Schedule D.

2

The concerns are—

a

mines and quarries (including gravel pits, sand pits and brickfields);

b

ironworks, gasworks, salt springs or works, alum mines or works (not being mines falling within the preceding paragraph) and waterworks and streams of water;

c

canals, inland navigation, docks and drains or levels;

d

fishings;

e

rights of markets and fairs, tolls, bridges and ferries;

f

railways and other ways;

g

other concerns of the like nature as any of the concerns specified in paragraphs (b) to (e) above.