Extra Tax Relief for Companies with Derelict or Contaminated Land or Property
If you are a company owning contaminated or derelict land or buildings, don’t overlook Land Remediation Relief. Substantial tax relief is available to assist you in the clean up of contaminated land, or for some of the site preparation costs on derelict land.
You can save 28.5% corporation tax rather than the usual 19% if you are a developer; and if you are a property investor you can use the relief to turn a capital cost into an income deduction also worth a 28.5% tax saving. If you have losses in the year then you can opt to take a repayable tax credit from HMRC worth 24% of your costs.
It’s not just about asbestos… potential qualification is much, much wider than that.
Take a look at our new leaflet and the flow chart on the back to gauge your possible qualification for this relief.