CA45200 - Business Premises Renovation Allowance: Conditions and commencement

CAA01/S360A

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.