HM Revenue and Customs Brief 29/09
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Issued 14 May 2009
Changes to Land Remediation Relief: Publication of Draft
This Revenue & Customs Brief is of interest to bodies
liable to Corporation Tax carrying out remediation work on land in the
At the Pre-Budget Report (PBR), the government announced
changes to Land Remediation Relief and published draft primary
legislation for comment. HM Revenue & Customs (HMRC) recently
published for comment draft Regulations under powers contained in the
new legislation. HMRC is today publishing draft guidance on the new
At Budget 2008 and at the Pre-Budget Report, the government
announced changes to Land Remediation Relief.
Details of the proposed amendments to Land Remediation Relief,
together with the draft primary legislation, were published in a
Technical Note at the Pre-Budget Report. HMRC recently published draft
Regulations under powers contained in the draft legislation.
HMRC is today publishing its draft guidance
(http://www.hmrc.gov.uk/briefs/company-tax/brief2909.pdf) on the
revised Land Remediation Relief to give interested parties the
opportunity to comment.
As explained in the Technical Note published at PBR, the
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 is inviting interested parties to raise issues of how the
legislation applies to a situation not covered in the draft guidance.
Comments on the draft guidance should be submitted by 31 July
100 Parliament Street
Tel: 020 7147 2546
Email: Brian Stokes
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Article Published/Sorted/Amended on Scopulus 2009-05-15 16:08:44 in Tax Articles