CTM02120 - Corporation Tax: computation of income: special rules: mineral rights

ICTA88/S121 (3), ICTA88/S122

To work out income from letting the right to work minerals in the UK, you can deduct any money the lessor spends wholly, exclusively and necessarily as expenses of management or supervision of those minerals.

Apply the instructions at RE1950 onwards to these management expenses, and make the appropriate modifications for CT.

Instructions on the computation of liability in respect of mineral royalties are at BIM62090 onwards.