Following the release of our recent blog Structures and Buildings Allowance – Capital Allowances (published 30 June 2021), HMRC have published a policy paper on a proposed additional requirement for preparing an allowance statement. The allowance statement is required to make a claim for Structures and Buildings Allowance (“SBA”) and this proposed amendment will have effect once the next Finance Bill 2021-22 receives Royal Assent.
In order to make a claim for the SBA, the current requirements that the allowance statement must meet are as follows:
Details of the building or structure;
The date of the earliest contract for the construction of the building or structure;
The amount of qualifying expenditure incurred on its c...
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