 | |
| |
PART II |
| |
ENTITLEMENT TO LAND REMEDIATION RELIEF |
| |
Entitlement to relief |
| | 12. - (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.
|
