Summary
We invite views on this draft secondary legislation, following
announcement of the Structures and Buildings Allowance at Budget
2018. The government announced this measure to support business
investment in new non-residential structures and buildings, and
to enhance tax relief for such assets.
This consultation closes at 11:45pm on 24 April 2019
Consultation description
The Structures and Buildings Allowance will help to support
business investment in the UK, improve the case for
developing new structural assets and enhance tax relief for
such assets.
The technical
note published at Budget 2018 outlined the key
features of the policy and included consultation questions on
residential use exclusion, leasing provisions, overseas
property treatment and disuse provisions.
For the second part of the consultation process, the
government invites views on the legislative detail, before it
is laid before and approved by the House of Commons.
An overall response to consultation responses will be
published in May 2019 and the final published version of this
legislation will be in the form of a Statutory Instrument.
The published document consists of:
- An introductory note which briefly reiterates the scope
and design of this new allowance as set out in the technical
note published at Budget 2018. This includes a short section
outlining how some technical elements of the policy design
have changed following engagement with stakeholders so far in
the consultation process.
- The draft secondary legislation that provides the legal
basis for this new allowance. This sets out in detail the
treatment for relieving expenditure at the inception of the
new asset and after that. It explains the circumstances in
which relief can be provided or transferred, including
important exclusions such as land-related costs or
residential use. Once in force, the legislation will apply to
eligible costs incurred on or after 29 October 2018, in line
with the commencement provisions.
Documents
