OT26206 - Capital Allowances: Mineral Extraction Allowance

First-Year Allowances for Ring Fence Mineral Exploration and Access

There are 100% first-year allowances for expenditure on mineral exploration and access, excluding expenditure on mineral assets and assets representing expenditure of a connected person, for a ring fence trade within the supplementary charge. The special allowances were introduced from 17 April 2002 in FA2002.

There is detailed guidance on these first-year allowances at OT21230 onwards.