150% Tax Relief for UK Companies

Asbestos Removal Tax Relief

As part of the government’s urban regeneration scheme, under the Finance Act 2001, it is possible to claim 150% of the cost of asbestos remediation against your company's profits as tax relief.

For example: if asbestos removal costs £10,000 a company can deduct £15,000 from their taxable income. This also means that if the company made a loss, then they could be eligible for a cash rebate.

This concession only applies to UK registered companies and does not apply if the building or land was owned by the company when the asbestos was originally imported.