Mineral Royalties Relief - It's Not Set In Stone

In April 2013 the Government will abolish a very important relief which may be of little significance to the vast majority of taxpayers, but for land owners with mineral bearing land, its abolition means they need to act quickly.

Since 1970, mineral royalties relief has taxed 50% of royalties from mineral extraction to income tax and 50% to capital gains tax (CGT), but in future the whole amount will be taxed as income. In addition, there was also the ability to claim a capital loss for the decrease in value of the land...