Introduction Details of Schedule 39 Income tax
68.Paragraph 43 repeals sections 157, 319 and 340 to 343 of ITTOIA. Those sections treat half of the mineral royalties that a person may receive under a mineral royalty agreement or lease as subject to income tax. The paragraph also makes consequential amendments to ITTOIA and the Commissioners for Revenue and Customs Act 2005. These changes have effect for mineral royalties receivable on or after 6 April 2013.