Commentary

C2.1111 Mineral leases and agreements

Capital gains tax
Capital gains tax | Commentary

C2.1111 Mineral leases and agreements

Capital gains tax | Commentary

C2.1111 Mineral leases and agreements

Where, under a lease, licence or other agreement, the right to mine and work minerals in the UK is conferred, before April 2013, one-half of any (gross) mineral royalty receivable under the lease by a person resident or ordinarily resident in the UK is excluded from income and treated as a chargeable gain1. However, the relief is withdrawn in relation to royalties which a person or company is entitled to receive on or after 1 April 2013 for corporation tax purposes, or on or after 6 April 2013 for income tax purposes. From those dates the whole mineral

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