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Relief for pre-trading expenditure on mineral access and exploration that is not on the provision of plant and machinery is given under CAA01/S401.

If the activity of mineral exploration and access at a source:

• is continuing when the person incurring the expenditure starts a trade of mineral extraction, then
• the excess of the expenditure incurred over any capital sum received (which is reasonably attributable to the expenditure) is treated as qualifying expenditure.

»Ê¹ÚÌåÓýapp expenditure is treated as incurred on the first day of trading. Writing-down and balancing allowances are given under the normal rules (there is no immediate balancing adjustment on commencement).