Business Premises Renovation Allowance Ends

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:

• letting
• a trade
• a profession
• a vocation
• offices.

Businesses who don’t claim the full BPRA may be able to claim for writing down allowances on a yearly rate of 25%.

For any help or advice with financial planning talk to RPD