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Finance Act 2014

Details of the Section

2.Subsection (1) provides that the section amends Part 5 (mineral extraction allowances) of CAA 2001.

3.Subsection (2) amends section 396(2) of CAA 2001 by substituting “and not as expenditure on acquiring a mineral asset” for “if planning permission is not granted”.

4.Subsection (3) amends section 398 of CAA 2001 by inserting “section 396(2) and” after “Subject to”.

5.Subsection (4) provides that amendments made by this section have effect in relation to expenditure incurred on or after Royal Assent to Finance Act 2014.

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