Market leading insight for tax experts
View online issue

Back to basics: Structures and buildings allowance

Clare Anderson (Smith & Williamson) provides a practical guide to the complexities and administrative requirements.

The SBA provides tax relief for expenditure on the construction conversion or renovation of non-residential properties at a rate of 3% per annum (previously 2% to 31 March 2020). The allowance is available for qualifying expenditure on contracts entered into from 29 October 2018 and its introduction has brought the tax deductibility of UK construction expenditure more in line with other G20 countries.

The government recently announced that a number of new freeport tax sites will be created and that the SBA will be available to non-residential structures and buildings within a freeport tax site at an enhanced rate of 10% per annum. This is available for expenditure on qualifying assets that are brought into use on or before 30 September 2026.

The SBA is a welcome opportunity for tax relief. However ...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top