Introduction
Finance Act 2005 introduced a new capital allowance –
Business Property Renovation Allowance (BPRA) which has been
effective for expenditure incurred on or after 11 April 2007. BPRA
is available for capital expenditure on converting, renovating or
repairing and bringing back into use certain commercial buildings
or structures that have fallen into disuse. The allowances
available (subject to a claim being made) are an initial allowance
of up to 100%, with an annual straight line writing down allowance
of up to 25% of the qualifying expenditure on any remaining
balance. The allowance is only available in certain areas. It was
initially available only for a five year period to 10 April 2012,
but the Government confirmed at publication of Finance Bill 2011
that the scheme would be extended for a further five years.
Therefore in order to claim an allowance under BPRA, the
expenditure must be incurred before 11 April 2017. It is available
whether or not the
