|
Tax reliefs - Brown Field sites |
|
|
Land remediation tax relief gives a corporation tax deduction of 150% on qualifying expenditure incurred in decontaminating land (eg £1m expenditure gives rise to £420,000 worth of tax relief for a company paying 28% tax).
From 1 April this is to be extended to derelict land (ie even if there is no contamination). Derelict land relief will cover expenditure on items such as removal of post-tensioned concrete, heavyweight construction, building foundations and machinery bases, reinforced concrete basements, below-ground demolition of redundant services. See pp18-19 of our November 2008 issue.
This table, from Pinsent Masons, summarises the tax relief available from 1 April:
|
|
March 2009 |
