Taxation of Chargeable Gains Act 1992 section 203

Provisions supplementary to sections 201 and 202

Section 203 provides supporting rules for the mineral royalties and capital losses provisions in sections 201 and 202, covering definitions, claim time limits, and tax repayments.

• The definitions of "mineral lease", "mineral agreement" and "mineral royalties" in sections 274 to 276 of CTA 2009 apply for interpreting sections 201, 202 and 203, even though those CTA 2009 provisions were repealed by the Finance Act 2012.
• Any claim for capital loss relief under section 202(3) or 202(7) must be submitted within four years of the event that gives rise to the entitlement to claim.
• HMRC must make whatever tax repayments are needed to give effect to a valid claim.
• These rules ensure that the mineral royalties regime has consistent definitions and enforceable time limits for claims.