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The Government has today announced that legislation extending relief for
building alterations that are incurred in response to a notice from a Fire
Authority is to be repealed. Capital allowances will no longer be available
for expenditure incurred on or after 1 April 2008 for businesses within the
charge to corporation tax and on or after 6 April 2008 for businesses within
the charge to income tax.
Relief for expenditure on fire safety equipment such as fire alarms and
sprinkler systems will continue to be available for all businesses.
Our view
This is a technical change that has been introduced to prevent
businesses delaying vital safety improvement work in order to benefit
from relief in the form of capital allowances. |
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