Is Asbestos Removal A Capital Improvement In Devon?

If you are a property owner or developer in Devon, you may be wondering if asbestos removal is considered a capital improvement. The answer is yes but there are certain qualifications and rules you need to know. In this article, we will discuss the rules and regulations regarding asbestos removal as a capital improvement in Devon.

About Us

Affordable Asbestos Removal Devon (AARD) is a leading asbestos removal company in Devon. We specialize in providing safe and affordable asbestos removal services for all types of sites, including derelict land, retail portfolios, and commercial properties. Our team of licensed professionals uses state-of-the-art equipment to ensure the safety of our clients and their property.

Asbestos Removal Sites

Asbestos can be found in a variety of properties in Devon, including derelict land, retail portfolios, and commercial properties. If you own or develop any of these sites, you may require asbestos removal services. Asbestos removal is a necessary expense to ensure the safety of workers and visitors to the property.

Asbestos Removal as a Capital Improvement

To qualify for relief on expenditure incurred within a year of the site being brought into use or the site being redeveloped, the expenditure must be claimed by the two accounting periods. The expenditure incurred within one year of the site being brought into use or the site being redeveloped is available for the Land Remediation Relief (LRR) whether the site is held as trading stock or not.

Expenditure Incurred on Asbestos Removal

Any expenditure incurred on asbestos removal within an accounting period is claimable for Land Remediation Relief. This relief is available for expenditure incurred on land remediation in the UK, including asbestos removal. The relief is available for all commercial property developers alike, but it is not available for residential properties.

The Benefits of Land Remediation Relief

Land Remediation Relief (LRR) allows a company to claim a credit of up to 16% of the qualifying expenditure against its taxable profits. The relief is available for all companies regardless of their size or status as long as they pay UK tax. The credit can be used to reduce the companys tax liability or be refunded as cash.

Asbestos Removal in Devon

In Devon and the South West of England, asbestos is a common problem due to the age of many of the properties. Asbestos was used extensively in building materials until it was banned in 1999. This means that many buildings that were constructed before 2000 may contain asbestos, and they may require asbestos removal services.

Asbestos Removal Costs

Asbestos removal costs can vary depending on the size of the job and the location of the property. However, at AARD, we offer affordable asbestos removal services that are tailored to your specific needs. We provide free quotations and advice, so you know exactly what youre getting before you commit to anything.

Contact Us

If you are looking for professional and affordable asbestos removal services in Devon, dont hesitate to contact Affordable Asbestos Removal Devon. You can call us on 01962 458066, email us at [email protected], or visit our website at affordable-asbestos-removal-devon.co.uk. Our team of experts is ready and waiting to help you with all your asbestos removal needs.

In conclusion, asbestos removal is considered a capital improvement in Devon, and it qualifies for Land Remediation Relief. As a property owner or developer in Devon, it is essential to understand the rules and regulations regarding asbestos removal to ensure that you receive the tax relief that you are entitled to. Affordable Asbestos Removal Devon is your go-to company for safe and affordable asbestos removal services in Devon. Contact us today for a free quote and to find out how we can help you.