Land remediation tax relief (LRTR) gives between 50% and 150% relief to UK corporation taxpayers on their costs in remediating contaminated or long-term derelict sites. Taxpayers annually claim £30m of LRTR, but could or should it be more? Ten years on, does tax policy modify behaviour to drive housing growth and regeneration? Housing is a complex issue with no quick fixes, but LRTR provides a valuable contribution (up to 28.50% of remediation costs) to help bring polluted or brownfield sites back into economic use. However, the dereliction criteria needs rebasing to enable the rules to stay relevant and effective.
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Land remediation tax relief (LRTR) gives between 50% and 150% relief to UK corporation taxpayers on their costs in remediating contaminated or long-term derelict sites. Taxpayers annually claim £30m of LRTR, but could or should it be more? Ten years on, does tax policy modify behaviour to drive housing growth and regeneration? Housing is a complex issue with no quick fixes, but LRTR provides a valuable contribution (up to 28.50% of remediation costs) to help bring polluted or brownfield sites back into economic use. However, the dereliction criteria needs rebasing to enable the rules to stay relevant and effective.
If you are not a subscriber, subscribe now to read this content.
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