Land Remediation Relief in Mining – Can you claim it?
October 29, 2019 @ 8:00 am – 10:30 am
Land Remediation Relief (LRR) is an opportunity for all limited companies that bring contaminated or derelict land back into productive use. LRR offers relief from corporation tax by giving a 150% deduction for qualifying expenditure incurred in the cleaning up of the affected land, giving an effective subsidy in the order of 25% of the cost.
Land contamination must be present as a result of industrial activity by a previous owner and derelict land must be the result of certain specified types of construction, again by a previous owner.
In addition to land affected by human activity, work to clear or contain three natural contaminants is also eligible for relief, namely arsenic, radon and Japanese knotweed, all of which have a particular relevance to developments in Cornwall.
Given Cornwall’s extensive industrial history, any new mining activity is likely to face significant costs to address previous contamination and this valuable relief is an essential element in the financing of such elements.
Pippa Clarke, Tax Partner at Bishop Fleming with extensive experience in the mining sector, will run through the conditions and features of this most valuable relief.
Paul Raglan, Managing Director of Mining Searches UK will share his experience of land contamination issues and how this relates to the mining sector.
Date: Tuesday 29 October 2019
08:00 Arrival and breakfast (please let us know of any dietary requirements)
08:30 Presentation start
10:00 Networking and close
Venue: Bishop Fleming, Chy Nyverow, Newham Road, Truro TR1 2DP
Parking: Please note there is no parking available at the office. Nearby Pay & Display parking is available at Garras Wharf car park, near Tesco. IF you have limited mobility, please contact us to discuss other options.
RSVP: Please register using the form or contact Kathryn Williamson at KWilliamson@bishopfleming.co.uk by 18 October 2019.