Inheritance Tax
(asked on 29th February 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether death duties apply to mineral estates; and if he will make a statement.
This question was answered on 3rd March 2016
Mineral rights (or ‘mineral estates’) will generally be owned by the person who owns the surface land, but they can be held separately. Rights in respect of some minerals, such as mineral oil and gas, are held by the Crown, or the Coal Authority in the case of coal deposits.
Where an individual owns mineral rights, the value of them forms part of their estate for inheritance tax purposes.