Business premises renovation allowance ends
30th March 2017
Business premises renovation allowance (BPRA), which started on 11 April 2007, ends on 31 March 2017 for corporation tax and 5 April 2017 for income tax.
The 100% allowance applies to qualifying spending when converting or renovating unused business premises in a disadvantaged area.
Spending that qualifies for the relief includes:
- building work
- architectural and design services
- planning applications.
The building must have been unused for at least 1 year to qualify. It needs be used for:
- a trade
- a profession
- a vocation
Businesses who don’t claim the full BPRA may be able to claim for writing down allowances on a yearly rate of 25%.
Contact us today to discuss allowance you can claim.