Related Commentary  Related HMRC Manuals


Heading to s. 416 substituted by FA 2013, s. 92(4)(d), with effect in relation to expenditure incurred on restoration carried out on or after 17 July 2013.

416(1)  If–

(a)a person who has ceased to carry on a relevant mineral extraction trade incurs expenditure on the restoration of a relevant site, and

(b)the expenditure is incurred within 3 years from the last day of trading and meets the further conditions in subsection (3),

the net cost of the restoration is qualifying expenditure.

416(2)  The qualifying expenditure is treated as incurred on the last day of trading.

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