Capitalising on Land Remediation Relief for Asbestos Removal and Replacement with Solar Ready Roofs
The push towards sustainable energy solutions is more pressing than ever.
One significant hurdle for UK businesses in installing solar panels is the condition of their roofs, especially those containing asbestos. Removing asbestos not only ensures compliance with government regulations but also enhances the safety and value of your premises. In this blog, we explore how you can leverage the Land Remediation Relief (LRR) scheme to strategically approach asbestos removal for solar-ready roofs.
Understanding Land Remediation Relief (LRR)
The LRR is a form of tax relief for companies investing in the remediation of land in the UK that has been contaminated, including costs associated with asbestos removal1. The scheme encourages businesses to invest in making their land safe and usable, offering substantial financial incentives.
For capital expenditure, the LRR provides 150% relief. If claimed as a revenue expense, the LRR offers an additional 50% relief on top of the 100% already achieved through the profit and loss account 1.
It's important to note that if you are, or are connected to the 'polluter', you wouldn't qualify for the LRR. In the context of asbestos, the ‘polluter' would be the party who initially installed or used asbestos materials on the premises. However, it's important to note that even if you're connected to the ‘polluter', you can still claim 100% relief through the profit and loss account for the cost of remediation. This means that businesses who were originally responsible for the contamination can still receive some financial relief for cleaning up the site.
The Win-Win Scenario
By replacing an asbestos roof with a solar-ready one, you're achieving multiple goals at once. You're ensuring the safety of your employees and the environment while preparing your business for a sustainable future. Leveraging the LRR can significantly lower the cost of this transition.
The LRR offers more than just the opportunity to remove and dispose of asbestos. It also allows commercial landlords and building owners to enhance the thermal efficiency of their units by replacing asbestos with insulated panels. This improvement not only extends the building's lifespan and prepares it for energy generation installation but also directly reduces operational costs for heating or cooling.
We Can Help
At Energy Oasis, we understand that transitioning to renewable energy can be daunting, especially when it involves significant upfront costs like asbestos removal. Our team of experts can guide you through the process, from understanding the LRR scheme to planning the asbestos removal and solar panel installation.
Take Action Now!
Start your journey to a cost-efficient, sustainable future by capitalising on the Land Remediation Relief and making the strategic move of removing asbestos for a solar-ready roof. Contact Energy Oasis today to explore how we can support your transition to renewable energy.