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Finance Act 2012
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Corporation tax on income
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44(1)The following provisions of CTA 2009 (which provide for corporation tax relief on income in relation to mineral royalties) are repealed—
(a)section 135 (mineral royalties included as receipts of a trade),
(b)section 258 (mineral royalties included as receipts of a UK property business), and
(c)sections 273 to 276 (mineral royalties receivable in connection with mines, quarries and other concerns).
(2)In consequence of the provision made by sub-paragraph (1)(c), in section 272 of CTA 2009, omit subsection (3).
(3)The amendments made by this paragraph have effect in relation to mineral royalties which a company is entitled to receive on or after 1 April 2013.
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