What Is Land Remediation Relief?

Only of the biggest Tax Relief’s which HMRC offer!

Land Remediation Relief (LRR) is a tax relief available to property investors, and developers who clean up contaminated Land or Buildings.

As long as they haven’t created the contamination themselves, then any monies spent cleaning it up can be claimed.

Typical cases are properties with Asbestos, Land with Oil & Hydrocarbon spills or Invasive weeds such as Japanese Knotweed.

Introduced in 2001, it was aimed at addressing the market failure of bringing back into use derelict Land & Buildings.

HMRC therefore allows an investor can claim 150% of what is spent relating to the works! This can make a massive difference to the Return on the Investment for the owner (ROI).

The LRR can only be claimed by Limited Companies, so consider your business structure when looking at a potential project with Contamination.

A claim must be made within 2 years on incurring the costs via the Corporation Tax process and if a Loss is created, then a CREDIT can be paid back to you from HMRC, aiding cashflow on the project.

For more information on this Tax Relief drop me an email [email protected] or see Gov.UK. Thanks - Arthur Kemp EXACT.