Corporation Tax Act 2009 section 1151

Entitlement to and payment of tax credit

Section 1151 sets out the conditions under which a company can claim a land remediation tax credit and how such a credit is paid.

• A company is entitled to a land remediation tax credit for an accounting period if it has a qualifying land remediation loss in that period
• The company must make a claim to obtain the credit, and it may claim in respect of all or only part of the qualifying loss
• Once a valid claim is made, HMRC must pay the amount of the credit to the company, although this is subject to certain conditions
• Where a company claims a land remediation tax credit, there are restrictions on the amount of losses it can carry forward to future periods