Related Commentary  Related HMRC Manuals

422(1)  This section applies if–

(a)a person has acquired a mineral asset,

(b)at any time after the acquisition, the asset begins to be used (by him or another person) in a way which constitutes development, and

(c)the development is not–

(i)existing permitted development, or

(ii)development for the purposes of a mineral extraction trade carried on by the person.

422(2)  The person is required to bring the disposal value of the mineral asset into account for the chargeable period in which the use begins.

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