Is Asbestos Removal A Tax Deductible Expense in Hampshire?

Asbestos is a hazardous material that used to be commonly used in building materials due to its fire-resistant properties. However, it has since been discovered that asbestos can cause serious health issues, including lung cancer and mesothelioma. As such, it is important for businesses and homeowners to properly remove asbestos from their properties.

Asbestos removal can be expensive, and many wonder if it is tax deductible in Hampshire, UK. Affordable Asbestos Removal Hampshire has extensive experience in asbestos removal and remediation, and we can provide insight into this question.

Asbestos Removal in Hampshire

Affordable Asbestos Removal Hampshire is an asbestos removal company located in Hampshire, South East England. We provide professional and affordable asbestos removal and remediation services to clients in Hampshire and the surrounding areas.

Asbestos removal is necessary when asbestos-containing materials (ACMs) are disturbed, releasing dangerous fibers into the air. A professional asbestos removal company, like Affordable Asbestos Removal Hampshire, will take necessary precautions to ensure the safe removal and disposal of these materials.

Asbestos Removal Costs

The cost of asbestos removal can vary depending on a number of factors, including the size and complexity of the project. In general, however, asbestos removal can be expensive, with costs ranging from a few hundred to tens of thousands of pounds.

Is Asbestos Removal a Tax Deductible Expense in Hampshire?

The short answer is yes, in most cases, asbestos removal is a tax deductible expense in Hampshire. However, there are some important considerations to keep in mind.

HMRC Requirements

To qualify for tax relief, the asbestos removal must meet certain HMRC requirements. Specifically, the removal must be required by law, or necessary to keep employees safe.

This means that if you are a business owner and your building contains asbestos, you are required by law to remove it. As such, the cost of this removal would be tax deductible. Similarly, if you are a homeowner and your property contains asbestos that is causing a safety hazard, the cost of removal would be tax deductible.

Taxable Materials

It is also important to note that only the cost of removing taxable materials is tax deductible. Taxable materials include those that were installed in the building after 1 January 2010.

If your building contains materials that were installed prior to this date, you may still be able to claim tax relief, but only for the cost of removing these materials, not for any new materials that have been installed.

Tax Rebate Scheme

There is a tax rebate scheme available for certain persons who have been exposed to asbestos in the workplace and subsequently developed illnesses such as mesothelioma. However, this is a separate scheme from the tax relief for asbestos removal costs, and only applies in specific circumstances.

Asbestos Removal Remediation

In addition to asbestos removal, it is often necessary to undertake asbestos remediation to ensure the safe and complete removal of all asbestos-containing materials. Asbestos remediation involves cleaning and treating surfaces that have been contaminated with asbestos fibers.

The cost of asbestos remediation is also tax deductible, so long as it meets the same requirements as asbestos removal. This means that the remediation must be required by law or necessary to keep employees safe.

Fees for Asbestos Removal

It is important to note that while the cost of asbestos removal is tax deductible, any fees associated with the removal are not. This includes fees for testing, engineering, and disposal.

Affordable Asbestos Removal Hampshire Services

At Affordable Asbestos Removal Hampshire, we offer comprehensive asbestos removal and remediation services to clients in Hampshire and the surrounding areas. Our services include:

• Asbestos surveying and testing
• Asbestos removal and disposal
• Asbestos encapsulation and remediation
• Domestic and commercial services
• Fast, reliable service

Our team of skilled professionals have extensive experience in asbestos removal and remediation, and we pride ourselves on providing affordable, professional services.

Contact Us Today

If you require asbestos removal or remediation services in Hampshire, contact Affordable Asbestos Removal Hampshire today. Our team is ready to help with your asbestos-related issues, and we offer fast, reliable services at affordable prices.

To contact us, call 01962 458066 or email us at [email protected]. You can also visit our website at affordable-asbestos-removal-hampshire.co.uk for more information on our services.