Land Remediation Relief, otherwise known as Contaminated Land Tax Relief is a relief from corporation tax only. This provides land and property owners the opportunity to receive a corporation tax deduction of 100%, plus an additional deduction of 50%, for qualifying expenditure incurred by companies in cleaning up land acquired from a third party in a contaminated state.
Land or property may be considered contaminated as a result of industrial activity if:
The tax relief is intended to encourage the use of brownfield sites and make the land safer for humans, animals, and buildings alike.
The claim must be made within two years of the end of the accounting period when the expenditure was incurred in order to be valid.
The calculation can be complicated however, as you can see from the calculations below ZLX will maximise your relief by ensuring all legitimate expenditure is taken into account before submitting your claim.
Land Remediation Relief can provide tax credits or relief of corporation tax liabilities in many commercial property sectors where companies are subject to corporation tax.
If you are a profitable company and have capitalised your costs on the Balance Sheet
If you are a land or property owner that has incurred costs to treat or remove contaminants, then you could be eligible to make a claim.
Examples of relevant qualifying criteria include:
Don’t worry if you find the laws surrounding Land Remediation Relief ambiguous or complicated. The experts at ZLX you will guide you through the process and our expert assessments will very quickly provide you with detailed analysis from our internal software tool which will immediately provide an eligibility conclusion.
Whether your company is making a profit or a loss, a claim could be possible. Contact us on +44 (0)141 739 3377 to speak to one of our experts
ZLX are experts in specialist areas of tax relief.
Our headquarters are in Glasgow, with offices in London, and Manchester, we work with Businesses, Accountants and Solicitors throughout the UK. We have a team of in-house experts which includes Surveyors, Contaminated Land Engineers, Tax Technicians, Accountants, Report Writers and Account Managers.
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