Draft legislation: capital allowance for new non-residential structures and buildings

Issue date: 13/03/19

Closing date: 24/04/19

HMRC and the Treasury have published a consultation seeking views on draft legislation for non-residential structures and buildings capital allowance, which provides relief on eligible construction costs incurred on or after 29 October 2018, at an annual rate of 2% on a straight-line basis and is intended to address a gap in the current capital allowances system. The structures and buildings allowance is an entirely new relief and is not clawed back on a sale and the benefit of any unused allowance can transfer to a new buyer.