Commentary

B3.281 Balancing charges on buildings in enterprise zones

Business tax
Business tax | Commentary

B3.281 Balancing charges on buildings in enterprise zones

Business tax | Commentary

B3.281 Balancing charges on buildings in enterprise zones

Despite industrial building allowances being phased out and ultimately abolished from 2011 (see B3.280), there are a number of provisions which continue to apply in relation to qualifying enterprise zone expenditure.

What is an enterprise zone building?

Enterprise zones were introduced to stimulate investment in new activities and provide new jobs in depressed areas. These zones were defined as an area designated as such by the Secretary of State, the Scottish Ministers, the National Assembly for Wales or the Department of the Environment for Northern Ireland1.

One advantage of such designation was the availability of accelerated capital allowances on qualifying expenditure on the construction of an industrial building in such an area. The definition of an industrial building was extended to include a commercial building built on a site within an

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