Use ‘dirty’ land tax relief before it disappears, says specialist

South Yorkshire’s businesses are being urged to take advantage of tax relief on money spent cleaning up contaminated ground before it is withdrawn.

The relief, says Brian Gooch, tax manager at Sheffield-based independent chartered accountants and business advisers Hawsons, is designed to provide an incentive for companies to regenerate urban sites and buildings but he is expecting further information about the timeframe for its withdrawal in the next Budget.

He adds: “The purpose of the relief is to generate a clean-up of dirty land, including the removal of asbestos which is a huge contaminant throughout the UK. It is very important for the environment and the economy that these sites are regenerated, so maximising the relief while it is still available is absolutely crucial.”

Brian points out that certain conditions have to be met before relief is given and any companies wanting more details should contact Brian at bjg@hawsons.co.uk.

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