Tax breaks for derelict land and commercial property
Series: Property Week ; 68(49) 12 December 2003, 2(1)Publication details: 2003Subject(s): Summary: New tax incentives aimed at the redevelopment of long-term derelict sites and the refurbishment of commercial premises in the UK's 2 000 enterprise areas have been unveiled in the pre-Budget Report. The so-called contaminated land tax credit, subject to clearance under EU state aid rules, will be extended to include all long-term derelict land, with developers being eligible for tax allowances equal to remediation work costs. Businesses based in the enterprise areas will be allowed capital allowances for renovation work to bring buildings back into use. The pre-budget report and supporting documents are available at http://www.hm-treasury.gov.uk/pre_budget_report/prebud_pbr03/prebud_pbr03_index.cfm| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB4001-31 (Browse shelf(Opens below)) | 1 | Available | 124688-1001 |
New tax incentives aimed at the redevelopment of long-term derelict sites and the refurbishment of commercial premises in the UK's 2 000 enterprise areas have been unveiled in the pre-Budget Report. The so-called contaminated land tax credit, subject to clearance under EU state aid rules, will be extended to include all long-term derelict land, with developers being eligible for tax allowances equal to remediation work costs. Businesses based in the enterprise areas will be allowed capital allowances for renovation work to bring buildings back into use. The pre-budget report and supporting documents are available at http://www.hm-treasury.gov.uk/pre_budget_report/prebud_pbr03/prebud_pbr03_index.cfm