In order to incentivise the regeneration of more brownfield sites the Government introduced this relief in 2001. It applies to removing anything that might be harmful to the environment including commonly found materials and organisms such as asbestos and Japanese Knotweed.
Land remediation relief gives an enhanced deduction of 150 percent of qualifying expenditure incurred in remediating contaminated land or bringing derelict land back into use. For loss making companies there is also the option of receiving cash from HMRC.
The effect of the relief can often have a significant impact on the financial return or viability of a project, and we have extensive experience of agreeing claims with HMRC.