Corporation Tax Act 2009 section 1148

Election under section 1147

Section 1148 sets out the formal requirements that a company must meet when making an election to claim a deduction for capital expenditure on the remediation of contaminated land.

• The election must identify the specific accounting period to which it relates.
• The election must be made in writing and sent to an officer of HM Revenue and Customs.
• The written notice must be submitted within two years of the end of the accounting period covered by the election.
• Failure to meet any of these requirements means the election will not be valid.