Getting Your Tax Relief on Commercial Buildings

If you are a company that will buy or construct a commercial property for use in your business then the Government has increased the yearly allowance.  The scheme is known as ‘The Structures and Buildings Allowance (SBA)’, and you can now obtain a flat 3% rate per year thereby obtaining full corporation tax relief over 33 1/3 years.  There will be no adjustments arising when the building changes hands.  Instead the new owner takes over the unused tax allowances until they are all used up. Here at McMillan Rose, this is certainly an allowance that will come in useful as we have just undergone an expansion of our commercial offices.  If you would like us to give advice on this or any other matter then please get in contact.