Land Remediation Relief.
Companies that acquire contaminated or derelict land for the purposes of their trade or UK property business can claim an enhanced deduction of 150% for qualifying land remediation expenditure.
This relief is available to both developers who hold property as stock and also those who hold property as capital assets.
Qualifying costs include expenditure on the removal of the following:
- Asbestos e.g. roofing panels – complete removal or capping
- Japanese knotweed
- Sulphate contamination in soil and concrete
- Hydrocarbon contamination e.g. fuels, oils etc or dealing with disused tanks
- Any pollution from previous industrial activity e.g. heavy metal contaminants from industrial processes
The site must have been this way since 1 April 1998 and the land not capable of a productive use without the removal of buildings or other structures.
- Post-tensioned concrete heavyweight construction;
- Building foundations and machinery bases;
- Reinforced concrete pilecaps;
- Reinforced concrete basements;
- Redundant services which are located below the ground (i.e. pipes, wiring, tunnels, etc. used in relation to the gas supply, the water supply, drainage or sewerage, the electricity supply or telecommunications).
What are the Qualifying Costs?
Costs of establishing the level of contamination;
Staff or sub-contractor costs for those involved in the land remediation;
Cost of materials used in the remediation works;
Terex GB Limited
Terex GB Limited are global heavyweights in the materials processing industry with their long established brand being renowned for the quality of the machinery produced. view case study
Leading property development and contracting company, Tide construction have delivered on cutting-edge modular-build projects for a number of years. This delivery is supported by sister-company Vision Modular Systems, which oversees the manufacturing of modules within a 3D volumetric build system. view case study