(2) The company is entitled only to the relevant proportion of any writing-down allowance for that chargeable period to which it would, but for this paragraph, have been entitled under section 393J of CAA 2001.

(3) The relevant proportion is—

where—

42 (1) Nothing in paragraph 37 or 40(1) is to affect the operation of—

(a) section 393I of CAA 2001 (withdrawal of allowance if flat not qualifying flat or if relevant interest sold before flat first let), or

(b) sections 393M to 393P of CAA 2001 (balancing adjustments),

for chargeable periods beginning on or after the relevant date in relation to expenditure incurred before that date.

(2) The relevant date is—

(a) for corporation tax purposes, 1 April 2013, and

(b) for income tax purposes, 6 April 2013.

Part 6 Mineral leases or agreements

Income tax

43 (1) The following provisions of ITTOIA 2005 (which provide for income tax relief in relation to mineral royalties) are repealed—

(a) section 157 (mineral royalties included as receipts of a trade),

(b) section 319 (mineral royalties included as receipts of a UK property business), and

(c) sections 340 to 343 (mineral royalties receivable in connection with mines, quarries and other concerns).

(2) In consequence of the provision made by sub-paragraph (1)—

(a) in ITTOIA 2005—

(i) in section 337, omit the entry relating to section 340 (and the “and” before that entry), and

(ii) in section 339, omit subsection (3), and

(b) in CRCA 2005, in Schedule 4, omit paragraph 132(3)(a).

(3) The amendments made by this paragraph have effect in relation to mineral royalties which a person is entitled to receive on or after 6 April 2013.

Corporation tax on income

44 (1) The following provisions of CTA 2009 (which provide for corporation tax relief on income in relation to mineral royalties) are repealed—

(a) section 135 (mineral royalties included as receipts of a trade),

(b) section 258 (mineral royalties included as receipts of a UK property business), and

(c) sections 273 to 276 (mineral royalties receivable in connection with mines, quarries and other concerns).

(2) In consequence of the provision made by sub-paragraph (1)(c), in section 272 of CTA 2009, omit subsection (3).

(3) The amendments made by this paragraph have effect in relation to mineral royalties which a company is entitled to receive on or after 1 April 2013.

Chargeable gains

45 (1) Section 201 of TCGA 1992 (mineral leases: royalties) is repealed.

(2) In consequence of the provision made by sub-paragraph (1), in section 203 of TCGA 1992—

(a) in subsection (1), for “sections 201 and 202” substitute “section 202”, and

(b) in the heading, for “sections 201 and 202” substitute “section 202”.

(3) The amendments made by this paragraph have effect—

(a) for the purposes of capital gains tax, in relation to mineral royalties which a person is entitled to receive on or after 6 April 2013, and

(b) for the purposes of corporation tax in respect of chargeable gains, in relation to mineral royalties which a company is entitled to receive on or after 1 April 2013.

46 (1) Section 202 of TCGA 1992 (mineral leases: capital losses) is amended as follows.

(2) In subsection (1)—

(a) after “currency of a mineral lease or agreement” insert “entered into before the relevant date”, and

(b) after “in relation to a mineral lease or agreement” insert “entered into before that date”.

(3) After that subsection insert—

“(1A) For the purposes of this section “the relevant date” means—

(a) for the purposes of capital gains tax, 6 April 2013; and

(b) for the purposes of corporation tax in respect of chargeable gains, 1 April 2013.”

(4) In subsection (3), after “termination of a mineral lease or agreement” insert “entered into before the relevant date”.

47 In section 203 of TCGA 1992 (provisions supplementary to sections 201 and 202), in subsection (1), for “as they apply for the interpretation of Chapter 7 of Part 4 of CTA 2009” substitute “(despite their repeal by paragraph 44(1)(c)of Schedule 38 to the Finance Act 2012)”.

Part 7 Miscellaneous

Deeply discounted securities: incidental expenses

48 (1) In section 455 of ITTOIA 2005 (listed securities held since 26 March 2003: calculating the profit or loss on disposals)—

(a) in subsection (1), after “incurred” insert “before 6 April 2015”, and

(b) in subsection (3)(b), after “incurred” insert “before 6 April 2015”.

(2) The amendments made by this paragraph have effect for the tax year 2015-16 and subsequent tax years.

Grants for giving up agricultural land

49 (1) Section 249 of TCGA 1992 (grants for giving up agricultural land) is repealed.

(2) Accordingly, the italic heading before that section becomes “Woodlands”.

(3) The amendments made by this paragraph have effect in relation to disposals made on or after 6 April 2013.

Reduction for meal vouchers

50 (1) Section 89 of ITEPA 2003 (reduction for meal vouchers) is repealed.

(2) Accordingly, in that Act—

(a) in section 87 (benefit of non-cash voucher treated as earnings), omit subsection (6), and

(b) in Schedule 7 (transitionals and savings), omit paragraph 18.

(3) The amendments made by this paragraph have effect for the tax year 2013-14 and subsequent tax years.

Black beer

51 (1) ALDA 1979 is amended as follows.

(2) In section 1 (alcoholic liquors dutiable under ALDA 1979)—

(a) in subsection (3), omit from “, but” to the end of the subsection, and

(b) in subsection (5), omit “black beer,”.

(3) In section 4(1) (interpretation), omit the definition of “black beer”.

(4) In section 55(5)(b) (made-wine: exception to requirement for excise licence), omit “or black beer”.

(5) The amendments made by sub-paragraphs (2) and (3) come into force on 1 April 2013.

(6) The amendment made by sub-paragraph (4) has effect in relation to the use on or after 1 April 2013 of ingredients that include black beer.

Angostura bitters

52 (1) In ALDA 1979, omit—

(a) section 1(7) (angostura bitters deemed not to be spirits), and

(b) section 6 (power to exempt angostura bitters from duty).

(2) In Schedule 5 to FA 1994 (decisions subject to review and appeal), omit paragraph 3(1)(a).

(3) The amendments made by this paragraph come into force on 1 April 2013.

Tax reserve certificates

53 (1) The following provisions are repealed—

(a) section 750 of ITTOIA 2005 (interest from tax reserve certificates);

(b) section 1283 of CTA 2009 (interest from tax reserve certificates).

(2) In consequence of the provision made by sub-paragraph (1), in section 369 of ITTOIA 2005 (charge to tax on interest), in subsection (3)(e), omit “tax reserve certificates,”.

(3) The repeals made by sub-paragraphs (1)(a) and (2) have effect in relation to tax reserve certificates redeemed on or after 6 April 2013.

(4) The repeal made by sub-paragraph (1)(b) has effect in relation to tax reserve certificates redeemed on or after 1 April 2013.

Tax assessors

54 (1) Section 62(2) and (3) of FA 1946 (compensation for former land tax assessors and income tax assessors, etc) is repealed.

(2) In consequence of the provision made by sub-paragraph (1), in Schedule 2 to the Pensions (Increase) Act 1971 (official pensions), in paragraph 34, omit “or section 62 of the Finance Act 1946”.

(3) The amendments made by this paragraph come into force on 6 April 2013.