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Asbestos Removal And Tax Relief

Breathing in air containing asbestos is well-known to be highly dangerous and has been linked to cancer of the lungs and chest lining. Past exposure to asbestos is estimated to kill around 4,000 people in the UK every year.

The removal of higher risk asbestos containing materials, such as sprayed coatings and insulating boards, should only be carried out by a licensed contractor. This is a hazardous job and should only be undertaken by trained operatives who are under licence.

Luckily, our service partners Oracle Solutions are leading experts in this field and provide a complete professional turnkey service. For further information please visit their website on www.oracleasbestos.com.

We recently supported an event attended by Oracle Solutions and hosted by their CEO Jess Scott, who did a passionate speech on the industry he knows so well. It was very informative, but what really struck a chord was you can actually claim Tax Relief for Asbestos removal.

Jess went on to say that though this was introduced by the government 18 years ago when asbestos was banned, hardly any businesses are aware that they can claim under land remediation.

What is land remediation, and why does that include asbestos removal ?

Put simply, land remediation is the betterment of land from harmful contaminants, which includes asbestos.

The cost of asbestos removal or Remediation can be set against the companies taxable profits. For example, the cost of making Asbestos safe costs 50k then this can be set against taxable profits to sum of 75k, essentially a 150% tax relief.

As long as you're not the original polluter, you’re a UK registered company and have received no grants, this is all done through your tax return.

If you need further advice, please contact Jess and his team at Oracle who will be delighted to assist in any way they can.

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Written by WINNS Services