Part 3 U.K. Property income

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

Mineral royalties U.K.

343 Power of [F1 Commissioners] to determine what counts as “mineral royalties” U.K.

[F2 the Commissioners for Her Majesty’s Revenue and Customs] may by regulations—

(a) provide whether, and to what extent, rents receivable under a mineral lease or agreement which relate both to the winning and working of minerals and to other matters are treated as mineral royalties, and

(b) provide for treating the whole of such rents as mineral royalties if the extent to which they relate to matters other than the winning and working of minerals is small.

Textual Amendments

F1 Word in s. 343 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 ss. 50, 53(1), {Sch. 4 para. 132(3)(a)}; S.I. 2005/1126, art. 2(h)

F2 Words in s. 343 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 ss. 50, 53(1), {Sch. 4 para. 132(2)}; S.I. 2005/1126, art. 2(h)