Chapter CTM02120

Published date16 April 2016
Record NumberCTM02120
CourtHM Revenue & Customs
IssuerHM Revenue & Customs
CTA09/S272

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.

BIM62090 deals with the repeal by FA12/S227 of the provision...

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