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 has a life of 5 years so expenditure must be
incurred before 11 April 2012 to qualify.
