Corporation Tax Act 2009 section 274

Meaning of "mineral royalties"

Schedule 2 paragraph 52 clarifies that the definition of mineral royalties under section 274(2) excludes any rent that was receivable before a specific historical date.

• Mineral royalties are defined in section 274(2) of the Corporation Tax Act 2009
• Any rent receivable before 6 April 1970 is excluded from the definition of mineral royalties
• This is a transitional provision preserving the treatment of pre-1970 mineral rents
• The exclusion applies regardless of when the rent was actually paid, provided it was receivable before that date