# Income Tax (Trading and Other Income) Act 2005, Section 339: Deduction for management expenses of owner of mineral rights

Extent: E+W+S+N.I.

(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.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/339 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-339
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.