Part 5 Mineral extraction allowances
Chapter 6 Allowances and charges
Cases in which a person is entitled to a balancing allowance
427 Giving up exploration, search or inquiry
A person’s entitlement to an allowance for a chargeable period is to a balancing allowance if—
a
the qualifying expenditure is expenditure on mineral exploration and access,
b
he gives up the exploration, search or inquiry to which the expenditure related in that chargeable period, and
c
he does not then or later carry on a mineral extraction trade which consists of or includes the working of mineral deposits to which the expenditure related.