Mineral extraction allowances

Anti-avoidance provisions

Commentary – Tax Reporter ¶255-750 ; Practical Capital Allowances ¶500-600

Availability

Legislation/Regulatory – CAA2001 s. 394

HMRC Guidance – CA50120 ; CA50140

Balancing allowances

Commentary – Practical Capital Allowances ¶500-350

Balancing allowances and charges

Amount of

Legislation/Regulatory – CAA2001 s. 418

HMRC Guidance – CA50280 ; CA50300 ; CA50410

Buildings for benefit of employees abroad ceasing to be used

Legislation/Regulatory – CAA2001 s. 429

Ceasing to work mineral deposits

Legislation/Regulatory – CAA2001 s. 428

HMRC Guidance – CA50460

Determination of entitlement or liability

Legislation/Regulatory – CAA2001 s. 417

HMRC Guidance – CA50450

Discontinuance of trade

Legislation/Regulatory – CAA2001 s. 431

Disentitlement of allowance, anti-avoidance provision

Legislation/Regulatory – CAA2001 s. 570A ; FA2003 s. 164(2)

Disposal of asset etc.

Legislation/Regulatory – CAA2001 s. 430

HMRC Guidance – CA50280 ; CA50460 ; CA50500

Generally

Commentary – Tax Reporter ¶255-700

HMRC Guidance – CA23250 ; CA50410 ; CA50420 ; CA50470

Giving up exploration, search or inquiry

Legislation/Regulatory – CAA2001 s. 427

HMRC Guidance – CA50490

Pre-trading expenditure

Legislation/Regulatory – CAA2001 s. 426

HMRC Guidance – CA50240 ; CA50260 ; CA50480

Balancing charges

Commentary – Practical Capital Allowances ¶500-250

Calculation of allowances and charges

Any other event

Commentary – Practical Capital Allowances ¶500-230

Balancing allowances

Commentary – Practical Capital Allowances ¶500-350

Balancing charges

Commentary – Practical Capital Allowances ¶500-250

Buildings ceasing to be used

Commentary – Practical Capital Allowances ¶500-350

Ceasing to work mineral deposits

Commentary – Practical Capital Allowances ¶500-350

Demolition costs

Commentary – Practical Capital Allowances ¶500-220

Disposal receipts partly attributable to land

Commentary – Practical Capital Allowances ¶500-230

First-year allowances, ring-fence trades

Commentary – Practical Capital Allowances ¶500-400

General principles

Commentary – Practical Capital Allowances ¶500-200

Generally

Commentary – Tax Reporter ¶255-700

HMRC Guidance – CA23250 ; CA50410 ; CA50420 ; CA50470

Giving up exploration, search or inquiry

Commentary – Practical Capital Allowances ¶500-350

Loss/demolition or destruction of asset

Commentary – Practical Capital Allowances ¶500-230 ; Practical Capital Allowances ¶500-350

Permanent discontinuance of trade

Commentary – Practical Capital Allowances ¶500-230 ; Practical Capital Allowances ¶500-350

Sale of asset

Commentary – Practical Capital Allowances ¶500-230

Sales of asset at less than market value

Commentary – Practical Capital Allowances ¶500-230

Total of disposal receipts

Commentary – Practical Capital Allowances ¶500-230

Unrelieved qualifying expenditure

Commentary – Practical Capital Allowances ¶500-210

Writing-down allowances

Commentary – Practical Capital Allowances ¶500-300

Capital gains tax interaction

Commentary – Tax Reporter ¶255-800 ; Practical Capital Allowances ¶500-850

Connected persons, transactions between

Commentary – Practical Capital Allowances ¶500-650

Contribution allowances

Commentary – Practical Capital Allowances ¶115-300

Contributions allowances

Legislation/Regulatory – CAA2001 s. 541

Contributions to capital expenditure

Commentary – Tax Reporter ¶255-800 ; Practical Capital Allowances ¶500-800

Deductions disallowed

Legislation/Regulatory – CTA2009 s. 64

Demolition costs

Legislation/Regulatory – CAA2001 s. 433

HMRC Guidance – CA50310 ; CA50500

Development, meaning

Legislation/Regulatory – CAA2001 s. 436

HMRC Guidance – CA94100

Disposal values

Disposal of/ceasing to use asset

Legislation/Regulatory – CAA2001 s. 421, 423

Disposal receipt, meaning

Legislation/Regulatory – CAA2001 s. 420

Receipt of capital sum

Legislation/Regulatory – CAA2001 s. 425

Restriction in case of interest in land

Legislation/Regulatory – CAA2001 s. 424

HMRC Guidance – CA50440

Use of asset otherwise than for permitted development

Legislation/Regulatory – CAA2001 s. 422, 423

HMRC Guidance – CA50430

Excluded expenditure

Commentary – Tax Reporter ¶255-650

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Finance lease, lump sums

Commentary – Tax Reporter ¶255-750

Foreign branch exemption

Commentary – Tax Reporter ¶255-625 ; Practical Capital Allowances ¶500-125

Generally

Commentary – Key Data ¶11-800 ; Tax Reporter ¶255-500 ; Practical Capital Allowances ¶500-000

HMRC Guidance – CA50110

Giving effect to allowances and charges

Commentary – Tax Reporter ¶255-550 ; Practical Capital Allowances ¶500-050

Legislation/Regulatory – CAA2001 s. 432

Legislation

Commentary – Tax Reporter ¶255-500

HMRC Guidance – CA50110

Mineral asset, meaning

Legislation/Regulatory – CAA2001 s. 397

HMRC Guidance – CA50220 ; CA50300 ; CA50330

Mineral exploration and access, meaning

Legislation/Regulatory – CAA2001 s. 396

HMRC Guidance – CA50220 ; CA50230 ; CA50300

Mineral extraction trade

Expenditure incurred

Legislation/Regulatory – CAA2001 s. 160

Generally

Commentary – Tax Reporter ¶255-600

Meaning

Legislation/Regulatory – CAA2001 s. 159

HMRC Guidance – CA29250

Pre-trading expenditure on exploration and access

Legislation/Regulatory – CAA2001 s. 161, 401, 402, 426, Sch. 3, para. 25

HMRC Guidance – CA50240 ; CA50250 ; CA50260 ; CA50320 ; CA50480

Mineral extraction trade, meaning

Commentary – Practical Capital Allowances ¶500-100

Oil licences

Consideration to be treated as nil

Legislation/Regulatory – CAA2001 s. 553

Disposal with exploitation value

Legislation/Regulatory – CAA2001 s. 555

Interest in an oil licence, meaning

Legislation/Regulatory – CAA2001 s. 552

Licensed area, meaning

Legislation/Regulatory – CAA2001 s. 556

Meaning

Legislation/Regulatory – CAA2001 s. 552

Oil, meaning

Legislation/Regulatory – CAA2001 s. 556

Overseas

Legislation/Regulatory – FA96 s. 181(4), (5)

Relevant authority, meaning

Legislation/Regulatory – CAA2001 s. 556

Undeveloped areas

Legislation/Regulatory – CAA2001 s. 553, 554

Plant and machinery allowances

Commentary – Tax Reporter ¶241-000

Qualifying expenditure

Acquiring a mineral asset

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-170

Legislation/Regulatory – CAA2001 s. 403-406 ; ITTOIA2005 s. 62

HMRC Guidance – CA50220 ; CA50230 ; CA50370 ; CG71141 ; OT26017

Assets formerly owned by non-traders

Commentary – Practical Capital Allowances ¶500-180

Assets limited by reference to historic costs

Legislation/Regulatory – CAA2001 s. 410-413

HMRC Guidance – CA50920

Assets reflecting expenditure on mineral exploration and access

Commentary – Practical Capital Allowances ¶500-180

Buildings etc. for the benefit of employees abroad

Commentary – Tax Reporter ¶255-650

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Buildings or structures ceased to be used

Legislation/Regulatory – CAA2001 s. 405, Sch. 3, para. 84

HMRC Guidance – CA50360

Buildings or works for the benefit of employees abroad

Commentary – Practical Capital Allowances ¶500-190

Contribution to buildings or works for benefit of employees abroad

Legislation/Regulatory – CAA2001 s. 415

HMRC Guidance – CA50320

Exclusions

Commentary – Practical Capital Allowances ¶500-150

Legislation/Regulatory – CAA2001 s. 399

HMRC Guidance – CA50320

Generally

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-150

Legislation/Regulatory – CAA2001 s. 395, 403(2A), 416(5), (7A), 416ZA, 416ZB ; FA2013 s. 92

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Intra-group transfers

Commentary – Practical Capital Allowances ¶500-180

Limit to previous trader's residue

Commentary – Practical Capital Allowances ¶500-180

Mineral exploration and access

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-160

Legislation/Regulatory – CAA2001 s. 400-402

HMRC Guidance – CA50130 ; CA50220 ; CA50230 ; CA50230 ; CA50240 ; CA50270 ; OT26017

Non-ring fence trades, restoration within 3 years of ceasing to trade

Legislation/Regulatory – CAA2001 s. 416

HMRC Guidance – BIM90085 ; CA50280

Oil licence, acquisition

Legislation/Regulatory – CAA2001 s. 408, 410

HMRC Guidance – CA50920

Plant and machinery

Commentary – Practical Capital Allowances ¶500-160

Pre-trading expenditure

Commentary – Practical Capital Allowances ¶500-160

Pre-trading expenditure, plant and machinery

Legislation/Regulatory – CAA2001 s. 402

Pre-trading exploration expenditure

Legislation/Regulatory – CAA2001 s. 401

Premiums, prevention of double deduction

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-170

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Reduction where premium relief previously allowed

Legislation/Regulatory – CAA2001 s. 406

Relationships between main types

Legislation/Regulatory – CAA2001 s. 398

HMRC Guidance – CA50220

Restoration of land

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-190

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Ring fence trades

Legislation/Regulatory – CAA2001 s. 416ZA, 416ZB ; FA2013 s. 92

Second-hand assets

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-180

Legislation/Regulatory – CAA2001 s. 407-413, Sch. 3, para. 85-88

HMRC Guidance – CA50110 ; CA50220 ; CA50230 ; CA50470 ; CA50510 ; CA50610 ; CA50620 ; CA50640 ; CA50660 ; OT26017

Transfers of mineral assets within group

Legislation/Regulatory – CAA2001 s. 412, 413

HMRC Guidance – CA50810 ; CA50820 ; CA50830

UK oil licences

Commentary – Practical Capital Allowances ¶500-180

Undeveloped market value

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-170

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Undeveloped market value of land, exclusion

Legislation/Regulatory – CAA2001 s. 404

HMRC Guidance – CA50330 ; CA50350 ; CA50440 ; CA50620 ; CA50830

Unrelieved

Legislation/Regulatory – CAA2001 s. 419

Works likely to become valueless

Commentary – Tax Reporter ¶255-650 ; Practical Capital Allowances ¶500-190

Legislation/Regulatory – CAA2001 s. 414

HMRC Guidance – CA50220 ; CA50230 ; CA50230 ; OT26017

Ring fence trades

Connected persosn supplying site restoration services

Legislation/Regulatory – CAA2001 s. 416ZC

Generally

Legislation/Regulatory – CAA2001 s. 45F, 45G, 416A-416E

Notional accounting period

Legislation/Regulatory – CAA2001 s. 416ZB

Other participators in oil field, allowance where site restoration undertaken for

Legislation/Regulatory – CAA2001 s. 416ZE

Restriction on allowance available

Legislation/Regulatory – CAA2001 s. 416ZD

Site restoration expenditure

Legislation/Regulatory – CAA2001 s. 416ZA

Ring-fence trades

First year allowance

Commentary – Tax Reporter ¶255-700

HMRC Guidance – CA23250 ; CA50410 ; CA50420 ; CA50470

Restoration of land

Commentary – Tax Reporter ¶255-650

HMRC Guidance – CA50220 ; CA50230 ; OT26017

Sales being for an alternative amount

Legislation/Regulatory – CAA2001 s. 567-570

Sales treated as being for alternative amount

Commentary – Practical Capital Allowances ¶120-300 ; Tax Reporter ¶255-750 ; Practical Capital Allowances ¶500-500

Shares in assets

Legislation/Regulatory – CAA2001 s. 435

Subsidies

Commentary – Tax Reporter ¶255-800 ; Practical Capital Allowances ¶500-750

Successions

Commentary – Tax Reporter ¶255-800 ; Practical Capital Allowances ¶500-700

Tenant under taxed lease

Legislation/Regulatory – ITTOIA2005 s. 62

Terminal trade loss relief, carry-back of balancing allowances

Legislation/Regulatory – ITA2007 s. 92

Time when expenditure incurred

Legislation/Regulatory – CAA2001 s. 434

Transactions between connected persons

Commentary – Tax Reporter ¶255-800 ; Practical Capital Allowances ¶500-650

Writing-down allowances

Amount of

Legislation/Regulatory – CAA2001 s. 418

Determination of entitlement or liability

Legislation/Regulatory – CAA2001 s. 417

Generally

Commentary – Tax Reporter ¶255-700 ; Practical Capital Allowances ¶500-300

HMRC Guidance – CA23250 ; CA50410 ; CA50420 ; CA50470

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