Part 3 Property income

Chapter 8 Rent receivable in connection with a UK section 12(4) concern

Charge to tax on rent receivable in connection with a UK section 12(4) concern

337 Income charged

(1) Tax is charged under this Chapter on the full amount of the profits arising in the tax year.

(2) This is subject to—

• section 339 (deduction for management expenses of owner of mineral rights), and

• section 340 (relief in respect of mineral royalties).