Commentary

B5.651 Introduction to mining and other concerns where profits arise out of land

Business tax
Business tax | Commentary

B5.651 Introduction to mining and other concerns where profits arise out of land

Business tax | Commentary

Mining and other concerns where profits arise out of land

B5.651 Introduction to mining and other concerns where profits arise out of land

Profits and losses from the following activities connected with the exploitation of land1 are treated as if the concern were a trade:

  1.  

    (a)     mines and quarries (see B5.652, B5.653, B5.662), including gravel pits, sand pits and brickfields

  2.  

    (b)     ironworks, gasworks (see B5.654), salt springs or works, alum mines or works (other than mines within (a) above), and waterworks (see B5.655) and streams of water

  3.  

    (c)     canals, inland navigation (see B5.656), docks (see B5.657), and drains or levels (see B5.658)

  4.  

    (d)     rights of fishing

  5.  

    (e)     rights of markets (see B5.659) and fairs, tolls (see B5.660), bridges and ferries

  6.  

    (f)     railways (see B5.661) and other kinds of way, and

  7.  

    (g)     a concern of the same kind (see below) as one specified in (b) to (e) above

Note that this stops short of treating the

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