Commentary

93 Charges to income tax on mining rents and royalties receivable

MINES, MINERALS AND LANDFILL vol 26(3)
| Commentary

93 Charges to income tax on mining rents and royalties receivable

| Commentary

93 Charges to income tax on mining rents and royalties receivable

Relief which allowed half of a mineral royalty to be charged at the lower tax rates applicable to capital gains was withdrawn in respect of royalties receivable on or after 6 April 2013 (in respect of income tax) and 1 April 2013 (in respect of corporation tax). Receipts under pre-existing leases or arrangements as well as new ones are equally affected.

A premium on a grant of a mining lease for a term not exceeding 50 years is taxable partly as income and partly as capital in the same

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