This Revenue & Customs Brief is of interest to bodies liable to Corporation Tax carrying out remediation work on land in the UK.
With this brief HMRC publish a copy of the guidance on Land Remediation Relief which has been revised to reflect legislative changes in FA09.
On 12 May 2009, HMRC published for comment draft guidance on the amended Land Remediation Relief in Revenue & Customs Brief 29/09.
HMRC thanks all those who provided feed-back on the draft guidance. In addition HM Treasury thanks those who provided additional feed-back on the underlying policy.
HMRC is today publishing revised guidance on Land Remediation Relief (PDF 350K). This replaces the draft guidance published in Revenue & Customs Brief 29/09. Subject to minor changes, such as paragraph numbers, this version will be incorporated into the Corporate Intangibles and Research & Development Manual (CIRD manual).
HMRC will also be publishing a page on Land Remediation Relief in the Business Income Manual. This will explain the basics of the relief and provide directions to the main guidance in the CIRD manual.
The policy intention is that, as far as possible, companies will know whether or not they are entitled to relief on the basis of the risk assessments carried out as good practice in re-developing land in a contaminated state.
HMRC recognise that the guidance may require revision in light of practical experience. HMRC therefore invites interested parties to continue to raise issues either not covered in the current guidance or whose coverage may be improved.
Comments should be submitted to:
Brian Strokes
Room 3/36
100 Parliament Street
London
SW1A 2BQ
Telephone: 020 7147 2546
Email:Brian Stokes
Issued 4 March 2010
