The guidelines at BIM62015 should be referred to on the date of
commencement of a trade of mineral extraction.
Exploration by itself is regarded as a non-trading or
pre-trading activity.
Relief is available from the commencement of trading to
persons previously involved in exploration only - and who were
therefore not carrying on a trade of mineral extraction when the
expenditure was incurred (CAA01/S400 (2), S401, and S402).
