(1)A company is entitled to corporation tax relief for an accounting period if each of conditions A to D is met.
(2)Condition A is that land in the United Kingdom is, or has been, acquired by the company for the purposes of a UK property business or a trade carried on by it.
(3)Condition B is that at the time of acquisition all or part of the land is or was in a contaminated state.
(4)Condition C is that the company carries on a UK property business or a trade in the accounting period.
(5)Condition D is that the company incurs qualifying land remediation expenditure in respect of the land which is allowable as a deduction in calculating for corporation tax purposes the profits of the business or the trade for the period.
(6)For the company to obtain the relief it must make a claim.
(7)The relief is an additional deduction in calculating the profits of the business or the trade for the period.
(8)The amount of the additional deduction is 50% of the qualifying land remediation expenditure.