Structures and Buildings Allowance: legislation finally live

The new structures and buildings allowances regime was announced on 29 October 2018 and applies to qualifying construction projects from that date.

Enabling legislation for the allowance was included in Finance Act 2019 with the detail to follow in secondary legislation. On 17 June 2019, HMRC published revised draft legislation together with a summary of responses to the consultation around the draft legislation (first published in March of this year). The regulations received parliamentary approval on 4 July, and came into force on 5 July 2019. No changes were made to the draft regulations published on 17 June.

However, we still await HMRC guidance which is due to be published later this summer to provide clarity around the new rules.