Commentary

95 Capital gains on mineral royalties (transitional relief)

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

95 Capital gains on mineral royalties (transitional relief)

| Commentary

95 Capital gains on mineral royalties (transitional relief)

Until April 2013, half of a mineral royalty received was treated as a capital gain against which no expenditure could be deducted1.

Where a mineral lease or agreement entered into before 1 April 2013 (corporation tax) or before 6 April 2013 (capital gains tax) expires or the interest is disposed of such that a terminal loss arises, the terminal loss may be carried back against chargeable gains arising in respect of the mineral royalties within 15 years before the disposal or expiry, taking later years first2.

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