Land Remediation Relief: How we can help accountants and their clients

4th December 2023 | News

Clients look for more than accounting services from their trusted accountants.

Timely advice, recommendations, wider service offerings, or access to a network of trusted specialists can make a significant difference to your business and improve your professional reputation.

Land Remediation Relief

Land Remediation Relief is a tax incentive designed to encourage the redevelopment of contaminated or derelict land.

Introduced in 2001, LRR provides tax relief to companies engaged in the clean-up and restoration of contaminated sites, thereby promoting environmental sustainability and urban regeneration.

The relief allows qualifying businesses to claim a deduction on qualifying expenditure related to the remediation of contaminated land, reducing their overall tax liability.

To be eligible for LRR, the site must be classified as contaminated, and the remediation activities must be carried out in accordance with the relevant environmental laws and regulations. This incentive aims to incentivise responsible land management practices, fostering the transformation of neglected areas into productive and sustainable spaces while offering financial support to businesses engaged in the remediation process.

This incentive plays a major role in supporting the commercial and residential property markets and is a great opportunity for qualifying businesses to boost cashflow or reduce tax bills and has been widely used by thousands of companies across the UK.

With up to 150% of qualifying costs being available for relief or credits, you could make a substantial impact on your clients who work with land or in property development sectors that they will be grateful for.

How Williamson & Croft can help

Our comprehensive service encompasses thorough and personalised guidance, along with meticulous preparation for all LRR claims.

With extensive experience, we specialise in providing assistance for compliance checks and navigating HMRC enquiries related to existing claims. In the event of an enquiry into a claim we prepared, our commitment includes defending it at no additional cost.

As a regulated entity under the Association of Chartered Certified Accountants, we bring a blend of profound financial and technical expertise to our services.

Transparency is a cornerstone of our approach, ensuring that every element of a claim, subject to client approval, is communicated openly.

Recognising the significance of trust, we refrain from extending services beyond the agreed scope unless explicitly instructed.

Furthermore, our competitive fees are contingent on the success of the claim, reflecting our dedication to delivering value.

Beyond LRR, our offerings extend to a broader spectrum of property-related tax advice, ranging from property transactions to corporate ownership stamp duty considerations.

Next steps

Collaborating with us offers you the opportunity to enhance your client relationships by delivering added value to their businesses and ensuring they capitalise on all available tax benefits. Whether your clients are actively engaged in the dynamic land and property market or contemplating a land purchase, our expertise is tailored to optimise the benefits of the LRR scheme for them.

We understand that navigating the complexities of tax incentives, particularly in the context of land and property, can be a challenging aspect of financial management for your clients. Our services are designed to alleviate this burden and empower your clients to make the most of the opportunities presented by LRR.

Our team is well-versed in tailoring LRR solutions to the unique needs and circumstances of businesses operating in the land and property sector. We not only assist in maximising their eligibility for tax relief but also provide strategic insights that can contribute to their overall financial success.

To explore how our collaboration can significantly benefit your business and your clients, we invite you to engage in a no-obligation discussion with us. This will allow us to better understand your specific needs and challenges and, in turn, present customised solutions that align with your goals.

Strengthen your client offerings and elevate your business by reaching out to us for a thoughtful exploration of the value we can bring to your professional endeavours.

Williamson & Croft is a market leading accountancy, advisory and tax firm with particular specialisms in property, construction, retail, digital and creative, technology and professional services.

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