The UK’s Mining Fiscal Regime: H1 2014

UK mining industry is regulated by Department of Energy and Climate Change (DECC). The UK Coal Authority is the Non-Departmental Public Body (NDPB) sponsored by the DECC responsible for issuing licenses for coal exploration and mining.

The Coal Industry Act 1994 and the Coal Mining Subsidence Act 1991 are the main governing acts for mining in the UK.

Scope

The report outlines the UK’s governing bodies, governing law, licenses and permits and key fiscal terms which includes License Fees, Corporate Income Tax, Capital Gains Tax, Stamp Duty Land Tax, Withholding Tax, Loss Carry Forward, Depreciation Rates, Value Added Tax, VAT and Climate Levy Change.

Key Highlights

• Department of Energy and Climate Change (DECC) is responsible for policy making and ensuring compliance with regulations under European treaties.

• The Coal Authority is the owner of country’s coal resources and has the right to issue licenses for coal exploration and mining.

• The Mine (Shafts and Winding) Regulations 1993 is also applicable for the mines that are being operated.

Reasons to buy

Gain an overview of the UK's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The UK Mining Industry – Governing Bodies 6

2.1 Department of Energy and Climate Change 6

2.1.1 The Coal Authority 6

3 The UK Mining Industry – Governing Laws 7

4 The UK Mining Industry – Mining Licenses and Permits 8

4.1 License for Coal Mining 8

4.1.1 Exploration License 8

4.1.2 Underground Operations License 8

4.1.3 Opencast Operations License 8

4.2 Permits for Intersecting, Disturbing and Entering Coal 8

5 The UK Mining Industry – Key Fiscal Terms 9

5.1 License Fees 9

5.2 Corporate Income Tax 9

5.3 Capital Gain Tax 9

5.4 Stamp Duty Land Tax 9

5.5 Withholding Tax 10

5.6 Loss Carry Forward 10

5.7 Depreciation Rates 10

5.8 Value Added Tax (VAT) 10

5.9 Climate Change Levy 10

6 Appendix 11

6.1 What is this Report About? 11

6.2 Methodology 11

6.3 Secondary Research 11

6.4 Primary Research 12

6.5 Contact GlobalData 12

6.6 About GlobalData 12

6.7 GlobalData’s Services 13

6.8 Disclaimer 14

List of Tables

Table 1: The Mining Industry in the UK – Fiscal Regime Terms and Other Taxes (%), 2014 1

Table 2: The Mining Industry in the UK – License Application and Grant Fee (GBP), 2014 9

Table 3: The Mining Industry in the UK – License Annual Fee (GBP), 2014 9

Table 4: The Mining Industry in the UK – Withholding Tax (%), 2014 10

Table 5: The Mining Industry in the UK – Depreciation Rate (%), 2014 10

List of Figures

Figure 1: The Mining Industry in the UK – Commodity Mines at Different Stages (Number of Mines), 2014 2

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports