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PART II |
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ENTITLEMENT TO LAND REMEDIATION RELIEF |
| Entitlement to relief |
| 12. - (1) This paragraph applies if- |
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(a) land in the United Kingdom is, or has been, acquired by a company for the purposes of a Schedule A business or a trade carried on by the company, |
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(b) at the time of acquisition all or part of the land is or was in a contaminated state, and |
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(c) the company incurs qualifying land remediation expenditure in respect of the land. |
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(2) A company is entitled to land remediation relief for an accounting period if the company's qualifying land remediation expenditure is deductible in that period. |
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(3) The company's qualifying land remediation expenditure is deductible in that period if it is allowable as a deduction in computing for tax purposes the profits for that period of a Schedule A business or a trade carried on by the company. |
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(4) A company is not entitled to land remediation relief in respect of expenditure on land all or part of which is in a contaminated state, if the land is in that state wholly or partly as a result of any thing done or omitted to be done at any time by the company or a person with a relevant connection to the company. |