Contaminated Land Remediation
Contaminated land remediation is the process of clearing derelict land of contaminants. These may pose a risk to human health, the environment, or controlled waters.
Examples include where a business may be building on land damaged by industrial activities. This means they must remediate the space prior. The remediation is to ensure safety at the completed development.
What Does The Land Remediation Process Involve?
The land remediation process will involve thorough assessing and remediation, followed by verification. Follow-ups must be complete to report that the remediation remains successful.
When Should Land Remediation Be Completed?
There are various ways that land can be polluted and in need of remediation. Below are a few examples of what the land may be damaged by.
- Metals such as arsenic and lead
- Asbestos
- Oils and chemical substances
- Gases
- Hazardous substances
Relief is also given for expenditure incurred in removing the following structures left from any previous occupation of the site:
- Post tensioned concrete heavyweight construction
- Building foundations and machinery bases
- Reinforced concrete pile caps
- Reinforced concrete basements
- Below ground redundant services
As these threaten significant harm to people or property, it is vital to remediate land prior to beginning work. Environmental remediation techniques include bioremediation, dredging, oxidation, soil vapor extraction, and more.
How To Fund Land Remediation Projects
People eligible for LRR include developers, investors, or commercial property owners. If you are completing land remediation then you may be able to secure land remediation relief. This is a corporation tax reduction of up to 150%.
Qualifying activities may include removing contaminants as well as treating buried structures. This LRR tax relief is highly beneficial and can save you a substantial amount of money. Taxable profits must be from the decontamination of land and buildings that has been acquired from a third party.
Why Is Land Remediation Important For The Environment & Finances?
Land remediation is essential to secure future developments and complete work that aligns with safety guidelines and rules. Not only does it allow you to redevelop the space, but also saves further harm to the environment and human health.
Whilst transforming derelict land into a healthy area, work can take place to provide financial benefits to the community once completed. This means we can help to clear damage and boost money for the area through remediation.
There are an estimated 20,000 hectares of contaminated land in the UK, much of which is currently left derelict or underused. With relief offered from the government, people and businesses are being pushed to remediate empty spaces and restore areas.
Claim Land Remediation Relief With Veritas Noble
At Veritas Noble we specialise in claiming land remediation tax relief. Our team of experienced funding experts can help you or your business successfully claim LRR from HMRC. We make the process simple and straightforward for all of our clients, and ensure maximum claim value.
As well as LRR, we also help companies unleash the full potential of their investment in innovation through R&D tax credits. These are rewarded to businesses investing in R&D projects that provide an advancement or achieve sustainable outcomes for their industry. Examples may include developing a new method, designing, and building equipment, or modifying existing processes.
Simply give us a call on 01327 317561 or email info@veritasnoble.co.uk to find out more about any of our services. We operate on a no-win-no-fee basis, meaning we only receive payment once you have. Get in touch with our friendly team today and start reducing your tax.
