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Can I get 100% tax allowance on the cost of the conversion?

Question

There is a new incentive for property owners to convert an empty property above a shop into living accommodation and to get a 100% tax allowance on the cost of conversion. Will this 100% tax allowance be allowed on properties where there is already accommodation above the shop but where the shop is empty and the shop is converted in to living accommodation?

 

Arthur Says

The 100% capital allowances will not be available here, because the ground floor has to be authorised for business use (CAA 2001 sec 393C (1) (a)), which I understand to mean, actually used commercially.

 

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