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.
Contaminated Land.
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
Asbestos e.g. roofing panels – complete removal or capping
The availability of Land Remediation Tax Relief has long been under the radar for many companies.
We help our clients understand if they qualify to make a claim and guide them through the process of obtaining enhanced relief on their incurred expenditure.
Paul Gormley
Senior Quantity Surveyor, Technical Director
Derelict land.
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;
