Developers urged to claim land remediation tax relief

R&D tax relief specialist Recoup Capital has launched a land remediation relief service where land owners can claim 50p in the pound back in relief for removing ground abnormalities such as asbestos, knotweed or any structures predating 1998.

Land remediation relief (LRR) is a generous corporation tax relief available to investors and developers incurring expenditure on the remediation of contaminated land, including derelict structures.

The scheme is designed to encourage the clean-up of brownfield and contaminated sites to bring them back into economic use.

Land remediation relief is calculated on 150% of qualifying expenditure. Property investors and land owners are able to claim the full 150% in the year in which the expenditure was incurred.

It includes developments, refurbishments, fit-outs and regeneration projects and can be backdated two financial years.

Recoup Capital partner Anthony Doran said: “Recoup supported the construction sector throughout Covid with £20m in Research and Development rebates. Our national client base in the sector has found these services invaluable.

“Here at Recoup we strive to help all sectors we care about unlock capital they may not have been previously aware of. We have now launched land remediation relief with our chartered tax advisers as well as R&D, Stamp Duty, Capital Allowance providing a suite of products to assist with cash flow and profitability of all schemes.

“It all starts with an initial ten minute call to ensure you qualify.”

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