BPRA query

25% allowances limits - initial allowance not claimed - and cannot utilise the 25% in future periods

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Good evening,

I am looking at claiming BPRA for expenditure before 31st March 2017 where the building and the works qualify,

When looking at the 25% x 4 years rule i still will not be able to use all the tax liability up to the 25% threshold at least in the first year. Can i carry this over, do they go to waste or do they drop into the more traditional allowances pools for future years (where i would utilise the Non Qualifying for traditional allowances firstly within the BPRA allowances i.e. walls and structure). Ive looked at the legislation but i cant find anything unless someone can point me in the right direction.

Thanks in advance

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By Accountant A
06th Feb 2019 21:22

Tax is a specialist subject that requires training and experience to properly. If you want to optimise your tax position, engage an accountant (as you have been advised previously). If you don't have an accountant, I can pretty well guarantee that you have made errors.

Capital allowances, which have been the subject of most of your questions, are a particularly complex area of tax.

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