In 2017 alone, local authorities acquired almost £1.9bn of commercial property. It is easy for councils to dismiss tax incentives as being irrelevant on account of them not being able to claim any direct relief.However, as the need for prudence and risk management around commercial property acquisitions adds to budgetary pressures, councils are being forced to think outside of the box.Capital allowances - which can be claimed when a tax payer buys an 'asset' - have historically been given little or no priority in commercial property transactions. However, the chancellors autumn budget introduced more generous first year reliefs and a brand new Structure and Buildings Allowance (SBA) - which gives additional relief for structural elements of new builds and extensions - bringing them firmly into the spotlight and making them increasingly attractive.
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