Derelict Land Relief
Derelict Land Remediation Relief is a valuable tax relief that certainly is not taken up as much as it should be.
Awareness of the benefit that this relief can provide, has not been well promoted since it barely escaped being abolished in 2012. The incentive provides a 150% tax deduction for the qualifying costs associated with remediating contamination on land or with buildings.
As Landfill Tax limits have been raised over the last few years from £10.60 per tonne to £72 per tonne in 2013 to £84.60 per tonne in 2016 it is surprising, that Land Remediation Relief is not taken more readily. As the alternative means of dealing with contamination (i.e. sending contaminants to landfill) has now become more expensive.
For our guide on land remediation relief and contaminated land click here.