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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

 

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