General principles

Unlike the plant and machinery code of allowances, expenditure on mineral extraction is not ‘pooled’. Each item of qualifying expenditure is written down separately, and only disposal proceeds relating to that particular item are set against the expenditure. Having said this, HMRC will not in practice object to pooling where ‘assets are grouped together for computational convenience’ (CA 50410) as long as:

individual sources are separated; and

assets qualifying for relief at 10% are kept separate from those qualifying at 25%.

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