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HMRC internal manual

Company Taxation Manual

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

CTA09/S272, CTA09/S135, CTA09/S258, & CTA09/S273 to S276 (formerly ICTA88/S121 (3), ICTA88/S122)

In computing income from letting the right to work minerals in the UK, a lessor’s necessary expenses of management or supervision of those minerals are allowable.

Management expenses are those incurred wholly, exclusively and necessarily in securing the income, and include cost of collection.

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