In this article, Counting King explores the process of claiming land remediation relief for investors, developers, and commercial property owners
Land remediation relief allows investors, developers, and commercial property owners to claim tax relief of 150% on their corporation tax for expenditures associated with the clean-up of contaminated areas such as buildings and land.
These reliefs are aimed at motivating companies engaged in activities that involve cleaning up and restoring environmentally compromised sites by either reducing their tax liability or potentially offering cash refunds.
Are you involved in land remediation projects in the UK?
To claim land remediation relief, your project must involve the remediation of contaminated or derelict land.
The contaminated land should pose a risk to people, harm the environment, or hinder economic development. It’s crucial to consult with a Counting King specialist to assess whether your project meets the eligibility criteria.
Gather documentation and calculate expenditure
As with any tax claim, documentation is key. Counting King will gather evidence of the contaminated land, such as surveys, reports, and assessments, that demonstrate the nature and extent of the contamination.
Additionally, Counting King will keep records of all costs incurred during the remediation process to support your claim.
The next step to your land remediation claim is to calculate the qualifying expenditure.
This includes costs directly associated with:
- Site surveys
- Removal of contaminants
- Site preparation expenses.
Once the necessary documentation has been compiled, it is time to submit it to HM Revenue and Customs (HMRC). With Counting King, your claim can be submitted and confirmed to ensure a smooth and efficient service.
HMRC will review your claim and may request additional information or clarification. Counting King will respond promptly and cooperatively during this stage.
Once your claim is approved, you’ll receive the tax relief or credits that can significantly offset your land remediation costs.
Speak with Counting King to ensure compliance and ensure that you optimize your claim
Watch the full YouTube video below for more information, or download the Land Remediation Brochure.
