Asbestos Removal Tax Breaks

Morning everyone, did you know that if you own a building that has ACMs (asbestos-containing materials) built into it before your ownership and you are a company then you could be entitled to asbestos Removal tax breaks?

The cost and time delays related to the process of asbestos removal can be daunting for any company, but if you have a property portfolio (many houses for example), but the silver lining is that there are asbestos removal tax breaks available!

The asbestos removal tax breaks concession was introduced in the 2001 Finance act to provide an incentive to use brownfield sites, but this only applies to companies and is not available to sole traders, partnerships trustees or individuals. The 2001 Finance Act may have been introduced to encourage the redevelopment of old industrial or “brownfield” sites but the asbestos removal tax breaks can and are usually applied to all buildings containing  ACM (asbestos-containing materials).

So how much can I claim?

The current asbestos removal tax breaks allow the owners of a building with prior ACM’s (asbestos-containing materials) installed before they took ownership of the building (if you installed them or contracted some else to do it whilst you owned the building, then you are not entitled to claim) a tax rebate of up to 150%, Safeline Environmental can and will provide you with all the necessary documentation and expert support in claiming your 150% rebate. So if you have a building renovation or a portfolio of housing stock that needs to be updated but is subject to ACM’s why not drop Safeline Environmental a line and let us help you resolve the contamination legally and Cost-effectively.

Just to highlight the reduced liabilities, if you have a £20,000 removal cost you could reclaim up to £9,000 of that cost. This is 45% of the cost!

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