Part 4Property income
Chapter 7Rent receivable in connection with a UK section 39(4) concern
Management expenses of owner of mineral rights
272Deduction for management expenses of owner of mineral rights
1
This section applies if in an accounting period—
a
a company lets a right to work minerals in the United Kingdom, and
b
the company pays a sum wholly and exclusively as an expense of management or supervision of the minerals in the accounting period.
2
In calculating the amount of rent receivable in connection with a UK section 39(4) concern, a deduction is allowed for the sum for the accounting period.
F13
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