Part 3Property income
Chapter 8Rent receivable in connection with a UK section 12(4) concern
Management expenses of owner of mineral rights
339Deduction for management expenses of owner of mineral rights
(1)
This section applies if in a tax year—
(a)
a person lets a right to work minerals in the United Kingdom, and
(b)
the person pays a sum wholly and exclusively as an expense of management or supervision of the minerals in the tax year.
(2)
In calculating the amount of rent receivable in connection with a UK section 12(4) concern, a deduction is allowed for the sum for the tax year.
F1(3)
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