Remediation of Contaminated Land Tax Relief (RoCL) is to encourage the use of brownfield sites and to allow additional relief for the costs incurred in dealing with harmful substances to make land and property safer for humans, animals or for the building itself.
How the Remediation of Contaminated Land Tax Relief Works
The relief is available for those owning the land and property for their business, or property developers where the land is held as stock, but the relief cannot be claimed by the original polluter.
The relief provides an enhanced deduction for tax for certain qualifying costs, reducing a company’s tax bill or creating a cash receipt for loss-making companies. A claim can be made within two years of the end of an Accounting Period.
Does my business qualify?
Various activities qualify for RoCL including:
• Treatment or removal of asbestos
• Treatment or removal of Japanese Knotweed
• Lead contamination treatment
• Removal of petrol and diesel tanks from the ground
• Treatment of radon or arsenic in the land and property
• Removal of concrete foundations, machinery bases and other structures from long-term derelict land
“IF YOU’RE A UK TAXPAYER WHO HAS INVESTED IN THE TREATMENT OF YOUR COMMERCIAL LAND, YOU COULD BE ELIGIBLE TO CLAIM!”
Essentially most contaminants caused by industrial activity as opposed to caused naturally (Japanese Knotweed, radon and arsenic being the exceptions) that could cause harm to humans or animals or to the property itself.
The tax laws around RoCL tax relief are complicated, and the criteria for eligibility can be ambiguous. In order to get the largest tax relief return, you need to have an expert on your side. There’s no risk attached and the initial assessment will only take around thirty minutes of your time and if we can’t see an opportunity for you to claim on your Remediation of Contaminated Land Tax Relief, you walk away without spending a penny.