About the claim
Land Remediation Tax Relief can provide tax relief in all commercial property sectors, on revenue and expenditure incurred in restoring land. Companies that acquire contaminated or derelict land for the purposes of their trade or UK property business can claim an enhanced deduction of 50% or 150% for the clean-up costs.
In this case, a Limited company acquired land with derelict industrial units. The client bought the land with the aim of developing a new industrial estate.
In order to gain planning permission and before construction could be started, the derelict properties needed removing and the land prepared for the new development.
Following our review of the completed land remediation, there were a number of areas that qualified for tax relief in this case, for example:
Elements of this project ranging from:
1. Hydrocarbon contamination
2. Asbestos
3. Hazardous Gas
4. Flood risk assessment
5. Removal of unsuitable foundation materials
6. Raised tidal flat deposits
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If you, or your clients, have incurred costs remediating land or preparing land for development, please get in touch.
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