Land Remediation Relief

What should you know! Counting King can help

What is

Land Remediation Relief?

Land Remediation Relief allows companies to claim tax relief of 150% on their corporation tax, for expenditure associated with the clean up of contaminated areas such as buildings and land.

Investors, developers, and commercial property owners are able to claim land remediation tax relief on expenditure that has been spent on the process of decontaminating land or buildings. This acquisition should be made from a third party.

Eligibility Criteria

To qualify for the relief, you will need to have spent money on the following activities:

  • UK land
  • Land that will be used for trading purposes of your business
  • The land acquired needs to fall under the category that the Government understands to be ‘causing harm’

What Is Qualifying Expenditure For Land Remediation Relief?

Your main qualifying expenditure falls under, but is not limited to:

  • Sub-contractor costs
  • Costs associated with employment as well as labour costs
  • Capital expenditure, costs on machinery can be claimed through the incentive
  • Costs associated with risk assessments, consultancy fees as well as liaison expenditure

What You Cannot Claim Through Land Remediation Relief

As with any tax relief, there are some limitations that will stop you from claiming.

You will not be able to claim back if:

  • If your company was responsible for the contamination of land and/or building that you now want to remediate
  • For example, if you are subsidised by grant funding for the decontamination process
  • In addition, if the price for which you bought the land was discounted due to its contamination

How Much Tax Relief Can I Get?

Benefits Of Land Remediation Relief

Large Benefit

Your company can claim up to 150% against Corporation Tax for your qualifying expenditure on acquisition of land and its remediation process. You can claim this relief by either:

1

Surrendering your losses for a 16% tax credit

2

Or, reducing Corporation Tax by 150% for your qualifying expenditure

Additional Information
If you wish to claim land remediation relief then you will be required to make your clam within 3 years.

How Does Counting King Handle My Claim?

The process is simple:

Getting To Know You

We will hold an initial, informal conversation with you to understand what activities you have conducted, what your business is and whether you qualify for the incentive

Evaluating Your Costs

We will request your financials to evaluate your costs and calculate your benefit

Writing Your Claim

Counting King will write the claim for you which you can look over before submission to HMRC – you can be as involved in the process of writing your claim as you want to be

Rewards

Receive your benefit in either a reduction in your Corporation Tax liability or a payable credit

For help or advice please contact us:

Get In Touch !

We operate nationwide for a range of services and would love to help if possible.

Our highly trained consultants and analysts will look after you and all of your referrals so well, they will thank you for introducing us!

 

0161 667 5069

info@countingking.co.uk

Magnetic House, Salford, M50 3XW

Download our R&D Tax Relief Information

Learn about the process of claiming Research and Development Tax Relief