Now more than 20 years old land remediation tax relief (LRTR) was initially part of the Finance Act 2001 and introduced to help make brownfield sites more affordable and boost the UK housing supply to or beyond the long-standing government target of 300 000 new homes a year.
The housing crisis stubbornly remains a key challenge for government with only 216 490 net additional dwellings between April 2019 and March 2020 (10 March 2022 DLUHC Housing Supply). No doubt not helped by the additional financial impacts of section 106 agreements community infrastructure levy (CIL) residential property developer tax building safety levy and excessive planning delays exacerbated by Covid-19 residential developers might rightly feel unfairly targeted.
Valuable tax savings
Land remediation tax relief offers either 50% or 150% relief against qualifying land remediation expenditure (QLRE) incurred on brownfield site remediation in the UK...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.