What lies beneath

09 February 2006 / Alun Oliver

Issue: 4044 / Categories: Comment & Analysis , Land & property

Checking out the potential availability of land remediation tax relief can be very worthwhile, says ALUN OLIVER.

TAX INCENTIVES ON regeneration of brownfield sites have helped to increase the proportion of new dwellings built on previously developed land. The Office of the Deputy Prime Minister figures for 2004 released in July 2005 indicated a rise of the percentage of homes built on brownfield sites to be 70% of all new homes compared to only 57% prior to 1997. Land remediation tax relief (LRTR) is the principal relief aimed at encouraging many house builders to move into brownfield regeneration.
One such regional house builder is Meadgate Homes. Based in Cardiff Meadgate is an active housing developer with a regular flow of active sites across south Wales and the south west ranging from Bristol to Swansea. Meadgate had heard of LRTR but had limited practical knowledge of what was required in submitting a claim.

What is it?

LRTR was introduced under FA 2001 ...

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