As part of the government’s commitment to urban regeneration, it introduced 150% tax relief for businesses incurring expenditure on land remediation, including asbestos.
The costs of asbestos removal of remediation can be set against the company’s taxable profits. For example, if £50,000 is spent on removing or making the asbestos roof safe, £75,000 can be knocked off your taxable profits.
Requirements to make the claim;
- Your company must not have been the original polluter of the land or building. The asbestos must have been already present on the site when you purchased it.
- Your business must be a UK-registered company.
- The company must not receive any form of a grant for the works or remediation.
Get in touch today to arrange a quotation to remove your current asbestos roof – 0345 066 7000.