Corporation Tax Act 2009 section 1154

Amount of tax credit

Section 1154 sets out how to calculate the amount of the land remediation tax credit that a company can receive as a cash payment.

• The land remediation tax credit is calculated as 16% of the company's qualifying land remediation loss for the accounting period.
• This credit takes the form of a cash payment from HMRC to the company.
• The Treasury has the power to change the 16% rate by order at a future date.
• Any such order changing the rate may include transitional provisions and other consequential adjustments.