Since 2001, additional relief has been available for the cost of surveying and cleaning up contaminated land.
The definition is a wide one, and can extend, for example, to removing Asbestos from buildings.
Capital Allowances Rate
The relief is given at a rate of 150%, and is available to both property investors and traders.
Handling Tax Losses
If the 150% deduction gives rise to a tax loss, it may be swapped for a cash tax credit payable from HMRC equal to 16% of the loss (that is, a £2,400 cash payment for every £10,000 of loss surrendered).