Corporation Tax Act 2009 section 276

Power to determine what counts as "mineral royalties"

Section 276 gives the Commissioners the power to make regulations that define and control what qualifies as "mineral royalties" for the purposes of the tax relief available under section 273 of the Corporation Tax Act 2009.

• The Commissioners have the authority to make regulations concerning the application of the mineral royalties relief provided in section 273.
• Any regulations made under this power also extend to sections 135 and 258 of the Act, through the provisions in sections 135(3) and 258(3).
• This regulation-making power ensures that the scope of what counts as mineral royalties can be clarified or adjusted without requiring new primary legislation.
• An equivalent rule for income tax purposes exists separately under section 343 of the Income Tax (Trading and Other Income) Act 2005 (ITTOIA).