CA45200 | Business Premises Renovation Allowance: Conditions and commencement

Note: The BPRA guidance has not been updated to reflect the amendments made by s.66 FA 2014 which came into effect on 6 April 2014 for income tax purposes and 1 April 2014 for corporation tax purposes.

CAA01/S360A

Conditions

BPRA is available where a person incurs qualifying expenditure on converting or renovating a qualifying building CA45300. The allowance may be claimed by a person who incurred qualifying expenditure CA45300 and has the relevant interest CA45400 in the qualifying building. This means that BPRA is only available to the person who does the converting or renovating. A person who buys the relevant interest after the qualifying expenditure has been incurred cannot claim BPRA because their expenditure on buying the building is not qualifying expenditure.

Commencement

There is a start date. Expenditure must be incurred on or after 11 April 2007 to qualify.

Expiry

The scheme originally had a life of 5 years but this was extended for a further 5 years so expenditure must be incurred before 5 April 2017 for income tax purposes and 31 March 2017 for corporation tax purposes to qualify.