Part 3Property income
Chapter 8Rent receivable in connection with a UK section 12(4) concern
Charge to tax on rent receivable in connection with a UK section 12(4) concern
337Income charged
1
Tax is charged under this Chapter on the full amount of the profits arising in the tax year.
2
This is subject to—
section 339 (deduction for management expenses of owner of mineral rights), and
section 340 (relief in respect of mineral royalties).