Corporation Tax Act 2009 section 1152

Meaning of "qualifying land remediation loss"

Section 1152 defines what constitutes a "qualifying land remediation loss" and how its amount is calculated.

• A qualifying land remediation loss arises when a company both claims an additional deduction for land remediation expenditure and makes a loss in the same accounting period
• The loss must relate to either a UK property business or a trade in which the additional deduction was claimed
• The amount of the qualifying land remediation loss is capped at the lower of two figures: the unrelieved portion of the property business or trading loss, or 150% of the qualifying land remediation expenditure
• This definition is important because only a qualifying land remediation loss can be surrendered in exchange for a land remediation tax credit