Finance Act 2009

14 (1) Section 1163 (no relief if company responsible for contamination) is amended as follows. U.K.

(2) The existing provision becomes subsection (1) of that section.

(3) In that subsection—

(a) after “1161” insert “ or 1162 ”, and

(b) for “state if the land is in that” substitute “ or derelict state if the land is in a contaminated or derelict ”.

(4) After that subsection insert—

“(2) A company is not entitled to relief under this Chapter in respect of expenditure on land all or part of which is in a contaminated or derelict state if—

(a) the land is in that state wholly or partly as a result of any thing done, or omitted to be done, by a person not within subsection (1), and

(b) that person, or a person connected with that person, has a relevant interest in the land.

(3) For the purposes of subsection (2) a person has a relevant interest in land if—

(a) the person holds any interest in, right over or licence to occupy the land (including an option to acquire any such interest, right or licence in any circumstances), or

(b) has disposed of any estate or interest in the land for a consideration that to any extent reflects the impact, or likely impact, on the value of the land of the remediation of its contamination or dereliction.”

(5) In the heading, insert at the end “or dereliction or polluter has interest”.