Chargeable gains
This section has no associated Explanatory Notes
46(1)Section 202 of TCGA 1992 (mineral leases: capital losses) is amended as follows.
(2)In subsection (1)—
(a)after “currency of a mineral lease or agreement” insert “entered into before the relevant date”, and
(b)after “in relation to a mineral lease or agreement” insert “entered into before that date”.
(3)After that subsection insert—
“(1A)For the purposes of this section “the relevant date” means—
(a)for the purposes of capital gains tax, 6 April 2013; and
(b)for the purposes of corporation tax in respect of chargeable gains, 1 April 2013.”
(4)In subsection (3), after “termination of a mineral lease or agreement” insert “entered into before the relevant date”.