Land Remediation Relief: Tax Credit: Qualifying land remediation loss
A company has a qualifying land remediation loss for an accounting period if, in that period, it
- carries on a trade or property business, and
- makes a valid claim under FA01/Sch22/Para13 or CTA09/S1149 for the enhanced relief (the additional 50%) in computing the taxable profit, or allowable loss, of its trade or property business, and
- incurs a loss in that trade or property business.
The enhanced relief may be for capital or revenue expenditure and may arise from cleaning up land in a contaminated state or restoring derelict land.
Amount of qualifying land remediation loss
The amount of the qualifying land remediation loss for an accounting period is the lesser of:
- the amount of the company’s unrelieved trading loss or property loss for that period, and
- 150% of the qualifying land remediation expenditure for that period.