SCHEDULE 39Repeal of miscellaneous reliefs etc
PART 6Mineral leases or agreements
Chargeable gains
45
(1)
Section 201 of TCGA 1992 (mineral leases: royalties) is repealed.
(2)
In consequence of the provision made by sub-paragraph (1), in section 203 of TCGA 1992—
(a)
in subsection (1), for “sections 201 and 202” substitute “
section 202
”
, and
(b)
in the heading, for “sections 201 and 202” substitute “
section 202
”
.
(3)
The amendments made by this paragraph have effect—
(a)
for the purposes of capital gains tax, in relation to mineral royalties which a person is entitled to receive on or after 6 April 2013, and
(b)
for the purposes of corporation tax in respect of chargeable gains, in relation to mineral royalties which a company is entitled to receive on or after 1 April 2013.