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).