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bigduckontax
bigduckontax, Accountant
Category: Tax
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Is there tax relief an asbestos Roof with

Customer Question

Is there tax relief for encapsulating an asbestos Roof with a resinn and has it got to be coated on both sides
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I am Keith, one of the experts on Just Answer and pleased to be able to assist you with your question. If this is a commercial property and being let out then this expenditure is allowable against rental profits, sometimes at an enhanced rate. Here is Lucion Environment's pithy advice on the matter: 'If you are a UK company subject to Corporation Tax you can claim back up to 150% tax relief on any costs incurred on the removal, replacing or controlling of asbestos in the ground or buildings. Land Remediation Relief is a relief from corporation tax only. It provides a deduction of 100%, plus an additional deduction of 50% for qualifying expenditure incurred by companies in cleaning up land acquired from a third party in a contaminated state.' I do hope that my reply has been of assistance.
bigduckontax and 2 other Tax Specialists are ready to help you
Customer: replied 2 years ago.
HiThanks for your reply , Can you answer the following,
Do you have to encapsulate the underside of the roof to get the tax relief. Also on the elevations of the building there is a 2.00 metre band of asbestos cladding , will this have to be coated with resin or removed to avail of the tax relief.RegardsEddie
Customer: replied 2 years ago.
HiThanks for your reply , Can you answer the following,
Do you have to encapsulate the underside of the roof to get the tax relief. Also on the elevations of the building there is a 2.00 metre band of asbestos cladding , will this have to be coated with resin or removed to avail of the tax relief.RegardsEddie
Expert:  bigduckontax replied 2 years ago.
Thank you for your support Eddie.
The relief is available for controlling the asbestos. Thus both sides of the material would have to be treated. The cladding would either have to be treated or removed to attract the relief.
As you are probably aware local authorities and buildings regulators, not to mention contractors, get very twitchy whenever asbestos is even mentioned. I once got a week's extra leave when both arsenic [in the paint] and asbestos were discovered in the building in which I worked. The boss was beside himself with rage at having to give all of us the additional time off!
Customer: replied 2 years ago.
Hi ,
Will we have to treat the wall cladding also to avail of the reliefRegardsEddie
Expert:  bigduckontax replied 2 years ago.
for that asbestos item, of course. If you do not treat it or remove it you will not attract the relief on that particular item.