If you are developing or managing commercial property assets, Land Remediation Relief can help you improve cash flow and profitability.
Natural and man-made contamination can seriously impact the profitability of a development. Whether a company has previously damaged a site or the site has natural contaminants, like arsenic or Japanese knotweed, assessing the contamination and then removing it will incur costs.
What many developers and investors don’t know is that you can subsidise these costs and boost cash flow by making a tax credit claim for something called Land Remediation Relief – or LRR. This relief applies when a qualifying contaminant is present on a site or it is found in the structure of an existing property, for example asbestos.
LRR was introduced in 2001 by the Labour Government to incentivise the regeneration of derelict, contaminated and disused land and encourage development on brownfield sites rather than green belt. Today, it is still one of the most generous tax reliefs available to property developers and investors.
What do we do?
We take you through the entire process of a Land Remediation Relief claim. From start to finish. We can help you to assess the costs and likely benefit of making a claim at the outset. Our team of qualified surveyors are skilled in interpreting site investigations and environmental and remediation reports to identify the costs of qualifying remediation works.
If it makes financial sense to make a claim, we can then work with you to prepare and submit the claim to HMRC.
At each and every stage we work with you and your team to ensure you are always informed of what work is being undertaken and understand any potential outcomes.
We can help you to consider Land Remediation Relief throughout the development cycle:
- At land assembly: we review the terms of acquisition and the relevant interest in the land.
- Planning: we then complete a preliminary risk assessment and determine any qualifying natural or industrial contamination.
- Development agreements: we help clients understand the financial implications of making a claim based on the funding structure.
- Feasibility assessment: at this critical stage we help you understand the potential recovery and cash flow benefit.
Who do we help?
We help businesses and developers of all shapes and sizes understand and access Land Remediation Relief to improve cash flow and profitability, including property developers and property investors.
Land remediation relief explained
Land remediation relief applies to both revenue and capital expenditure incurred on the clean-up of contaminated or derelict land.
To find out more on what land remediation relief is and why it matters, watch our short video.