Draft secondary legislation has been published which sets out the detailed rules for a new form of capital allowance on eligible expenditure on non-residential structures and buildings. This allowance will also be available on expenditure on the refurbishment and renovation of such structures and buildings. The new allowance, to be known as the structures and buildings allowance (SBA), will be given at a rate of 2% per annum on a straight-line basis and is intended to incentivise investment into eligible structures and buildings. From a practical perspective, information and record keeping will be essential to ensure that the allowances are available over the life of the asset; this is particularly important on a first acquisition of property from a developer, where it will be crucial to understand the amounts that are eligible for relief.
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Draft secondary legislation has been published which sets out the detailed rules for a new form of capital allowance on eligible expenditure on non-residential structures and buildings. This allowance will also be available on expenditure on the refurbishment and renovation of such structures and buildings. The new allowance, to be known as the structures and buildings allowance (SBA), will be given at a rate of 2% per annum on a straight-line basis and is intended to incentivise investment into eligible structures and buildings. From a practical perspective, information and record keeping will be essential to ensure that the allowances are available over the life of the asset; this is particularly important on a first acquisition of property from a developer, where it will be crucial to understand the amounts that are eligible for relief.
If you are not a subscriber, subscribe now to read this content.
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