SCHEDULES

SCHEDULE 22 REMEDIATION OF CONTAMINATED LAND

Part 2 ENTITLEMENT TO LAND REMEDIATION RELIEF

12Entitlement to relief

1

This paragraph applies if—

a

land in the United Kingdom is, or has been, acquired by a company for the purposes of a Schedule A business or a trade carried on by the company,

b

at the time of acquisition all or part of the land is or was in a contaminated state, and

c

the company incurs qualifying land remediation expenditure in respect of the land.

2

A company is entitled to land remediation relief for an accounting period if the company’s qualifying land remediation expenditure is deductible in that period.

3

The company’s qualifying land remediation expenditure is deductible in that period if it is allowable as a deduction in computing for tax purposes the profits for that period of a Schedule A business or a trade carried on by the company.

4

A company is not entitled to land remediation relief in respect of expenditure on land all or part of which is in a contaminated state, if the land is in that state wholly or partly as a result of any thing done or omitted to be done at any time by the company or a person with a relevant connection to the company.