The Business Premises Renovation Allowance (BPRA) finishes in 2017 and is a great relief! Changes have been made to the relief to target it more effectively. Additionally the period for balancing adjustments has been reduced from seven to five years.

BPRA is aimed at the renovation of empty business premises, which have been empty for at least 12 months and which are located in an assisted area. See Assisted Areas Map below from the Gov.uk website:

Capital Expensiture must meet conditions A and B, and must be incurred before the expiry date. Also certain exclusions aply.

Condition A

The expenditure must be incurred on:

The conversion of a qualifying building into qualifying business premises.
The renovation of a qualifying building, provided it is or will become qualifying business premises.
Repairs to a qualifying building, or part of a qualifying building, provided those repiars are incidental in nature to that incurred…