PART 1 U.K. Income tax, corporation tax and capital gains tax

Valid from 06/04/2014

CHAPTER 4 U.K. Other provisions

Valid from 17/07/2014

Capital allowances U.K.

68 Mineral extraction allowances: expenditure on planning permission U.K.

(1) Part 5 of CAA 2001 (mineral extraction allowances) is amended as follows.

(2) In section 396 (meaning of “mineral exploration and access”), in subsection (2) for “if planning permission is not granted” substitute “ and not as expenditure on acquiring a mineral asset ”.

(3) In section 398 (relationship between main types of qualifying expenditure), after “Subject to” insert “ section 396(2) and ”.

(4) The amendments made by this section have effect in relation to expenditure incurred on or after the day on which this Act is passed.