Taxes Consolidation Act 1997 section 111

Allowance to owner of let mineral rights for expenses of management of minerals

Section 111 provides for a tax repayment to lessors of mineral rights in the State in respect of expenses of management or supervision of those minerals.

• A lessor who lets rights to work minerals in the State may claim a repayment of income tax paid on the rent or royalties, equal to the tax on amounts wholly, exclusively and necessarily spent on managing or supervising those minerals in the year of assessment.
• No repayment is due unless the lessor proves that tax has been paid on the full amount of the rent or royalties, and no repayment is made to the extent that the management expenses have already been allowed as a deduction elsewhere in computing income for income tax purposes.
• A claim must be made in writing, with full particulars, within 24 months after the end of the year of assessment to which it relates.
• If an inspector refuses or restricts the claim, the lessor may appeal the decision to the Appeal Commissioners within 30 days of the date of the notice of that decision, in accordance with the procedures set out in Part 40A.