A tax deduction for developers and investors cleaning up land in a contaminated state was introduced in 2001 to encourage urban regeneration.  A company can obtain 150 per cent relief for qualifying land remediation expenditure.  Alternatively where a company is operating at a loss it may surrender the relief in exchange for a payable tax credit.

In April 2009 significant changes were made to the rules to include long term derelict land and the removal of Japanese Knotweed and refocus the scheme in line with government intentions.  

Example of the types of project that can qualify include the removal of the petrol tanks at a redundant filling station prior to residential redevelopment and the removal of asbestos from a disused warehouse prior to demolition as part of a scheme changing a site to leisure use.  We can help by undertaking entitlement reviews and claim preparation using both our taxation skills and knowledge of the development process.