Land Remediation Relief

As part of the Government’s Urban Regeneration Scheme, it introduced in the Finance Act 2001 a 150% tax relief for companies incurring expenditure on the remediation of contaminated land and buildings.

The relief is available on expenditure incurred after 11th May 2001, to investors in the year expenditure is incurred and to developers in the year of sale.

Unfortunately, there are several conditions that have to be met in order for the taxpayer, and indeed the works, to be eligible for the relief. However, given the potential benefits it is well worthwhile seeking advice and undertaking a detailed assessment of the remediation works undertaken and the expenditure incurred.

PJB can provide further information and an initial no obligation assessment and clarification of entitlement upon request.