1170 - Part Share BPR Allocated ShareAmount Short

Your share of Business Premises Renovation Allowance (BPRA)

Your Partnership Statement will show your share of BPRA at box 12A.

For information

The BPRA scheme took effect from 11 April 2007. From that date, until 5 April 2017, if you carry out conversion, renovation or repairs to unused business premises which brings them back into business use, you're entitled to claim a 100% allowance against the costs incurred, subject to the following rules.

To qualify for BPRA, premises must:

• not have been used for any trading or other business activity, or as offices, for at least one year before the works began
• be in an Assisted Area, that is an area that is considered to be disadvantaged and eligible for regional aid - You can check whether an area qualifies.
• be available for business or commercial use after the works are complete (but must not be used for farming, fisheries and aquaculture, the manufacture of substitute milk products or synthetic fibres, shipbuilding, steel or coal industries)

You can't claim BPRA:

• if the renovation expenditure has been incurred on any residential property
• on the costs of acquiring the land, extending the business premises, or developing land next to the business premises

For more information about BPRA and the conditions you must satisfy to claim the allowance, read CA45100 in the Capital Allowances Manual at www.hmrc.gov.uk/manualsa-z

For BPRA balancing charges

To qualify for BPRA, premises must be held for at least 7 years from the date the premises were first used or were suitable for letting. The allowance must be repaid if within that period:

• the premises are sold - either freehold or by a long lease of 21 years
• the premises cease to be used for business activities
• the premises are demolished or destroyed
• the person who incurred the renovation costs dies

This is done by means of an adjustment known as a balancing charge. Enter onto your main partnership return the amount of BPRA which you've previously claimed on the premises.