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New structures and buildings allowance: what we know so far

Steven Bone (The Capital Allowances Partnership Ltd) reviews the new capital allowance introduced for non-residential structures and buildings. 
 

A surprise in the Autumn Budget was a new capital allowance called the structures and buildings allowance (SBA). A technical note outlined its key features but the Finance Bill 2019 just reproduced these and stated that CAA 2001 would be amended by regulations. The substantive statutory instrument will not be laid before Parliament until after royal assent of the Finance Bill.

What do we know so far?

In many respects SBAs sound similar to the industrial buildings allowances (IBAs) that were abolished from 2011. Although SBAs will be more widely available than the former definition of ‘industrial’ buildings the tax relief will be given at half the rate. The key aspects are set out below.

For both income or corporation tax purposes SBAs will give a...

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