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FA01/SCH22/PARA1 (1)

CTA09/S1147

A company, carrying on a trade or property business, can elect that capital expenditure on qualifying land remediation is allowed as a deduction in computing their taxable profits.

»Ê¹ÚÌåÓýapp deduction is allowed in the tax computation for the accounting period in which the capital expenditure is incurred.

»Ê¹ÚÌåÓýapp relevant conditions for relief are that:

• land in the UK is, or was, acquired by the company for the purposes of its trade or property business, and
• at the time the company acquired the land all, or part, of the land was in a contaminated or derelict state, and
• the company incurs capital expenditure on qualifying land remediation in respect of the land.

This section contains the following further guidance: