Commentary

B3.406 Qualifying expenditure generally

Business tax
Business tax | Commentary

B3.406 Qualifying expenditure generally

Business tax | Commentary

B3.406 Qualifying expenditure generally

Subject to limitations in the special circumstances described in B3.407–B3.414, capital expenditure of the following kinds is 'qualifying expenditure':

  1.  

    (a)     expenditure on mineral exploration and access for the purposes of a mineral extraction trade1. Expenditure incurred in unsuccessfully or, from 17 July 2014 successfully applying for planning permission to undertake mineral exploration and access, or to work mineral deposits, including costs of an unsuccessful appeal against refusal, qualifies under this head2. However, expenditure incurred by a person before he begins to carry on a mineral extraction trade is only qualifying expenditure if it satisfies certain conditions3 (see B3.407);

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