Next loses buildings allowances tribunal
Next, the clothing and household furnishings retailer, has lost an appeal worth £19m to claim tax allowances for its warehouses. Nick Huber reports.
The first-tier tax tribunal dismissed an appeal by Next Distribution against HMRC’s decision to refuse its claims for Industrial Buildings Allowance (IBAs), totalling more than £19m (Next Distribution Ltd & Ors v Revenue & Customs, TC02100).
It was accepted that the premises - Next’s centres in Doncaster which take delivery of containers of clothing, store it and then pack the clothes in special units for delivery to the Next shops and to online buyers - were “buildings or structures” and that the other criteria for claiming IBAs were met.
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