Corporation Tax Act 2009 section 275

Extended meaning of "mineral royalties" etc in Northern Ireland

Section 275 extends the definition of "mineral royalties" to cover special arrangements that apply in Northern Ireland, where mineral rights are handled differently from the rest of the United Kingdom.

• In Northern Ireland, the right to extract most minerals is held by the Department of Enterprise, Trade and Investment (DETI), not by private landowners.
• DETI grants licences to companies or individuals wishing to work the minerals.
• Former owners of mineral rights receive compensatory payments from DETI under various Acts of the Northern Ireland Parliament.
• This section ensures that those compensatory payments are treated as mineral royalties for corporation tax purposes, bringing them within the scope of section 273.