CA50120 - MEA: Scope of Relief: What is a trade of mineral extraction

Allowances are given under CAA01/S394 (1) to a person "who carries on a trade of mineral extraction in respect of qualifying expenditure incurred by him for the purposes of that trade".

"Trade of mineral extraction" is defined in CAA01/S394 (2) as a trade that consists of or includes the working of a source of mineral deposits.

CAA01/S394 (3) defines "mineral deposits" to include:

• "any natural deposits capable of being lifted or extracted from the earth", and
• "geothermal energy whether in the form of aquifers, hot dry rocks or otherwise".

It therefore includes mines, oil wells and geothermal energy sources (CAA01/S394 (5)).