B3.406A Mineral Extraction—First Year Qualifying Expenditure

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Commentary

Business tax

A first year allowance of 100% is given for expenditure if the expenditure meets the following basic conditions¹:

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•�� after 16 April 2002
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•�� wholly for the purposes of

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E5.607 Corporate members

B3.325 General exclusions—first-year qualifying expenditure

D1.8101 Groups of companies

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B3.406A Mineral extraction—first year qualifying expenditure

Business tax

E5.607 Corporate members

B3.325 General exclusions—first-year qualifying expenditure

D1.8101 Groups of companies

B2.218 Surplus business accommodation

E6.303A Domicile of origin

I3.750 POAT—introduction to existing arrangements

C1.106A Annual exempt amount

C2.201 Allowable expenditure for capital gains—overview

B2.315 The concept of wholly and exclusively

C2.1231 Leases—deemed premiums

B8.210 Restrictions on sideways loss relief

B2.319 Duality of purpose—apportionment of the expenditure

E6.324H Nominated income and gains and the ordering rules

I11.215 IHT accounts—excepted settlements

C2.1173 Interaction of the exemption election regime with other capital gains exemptions

B2.202 Capital receipts

D4.104 Company residence and the case law test

E1.416 Dividends from non-UK resident companies—general

D4.412 CFCs—excluded territories exemption

D1.1422 Calculating NGIE and ANGIE

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B3.406A Mineral extraction—first year qualifying expenditure

Business tax

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