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Flats above Shops

Submitted by FRoberts on 6 September, 2010 - 15:20

Just thinking out loud here...one of the officers responsible for empty homes here in Wales has an issue with accommodation above some retail premises (others will now be shouting "so have we"), the authority can provide some money towards renovation costs but the retailer can or will not , they are providing the space!  OK, I understand that, but I wonder if any one has had experience of similar and also would the Chamber of Commerce or Retailers Association or similar be somewhere we could approach?  Still thinking....

Many Thanks

Fiona

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flats over shops

Submitted by Luke Taylor on 8 September, 2010 - 12:02.

Hi

 

What might be worth considering is the flats over the shops allowance. This is where the owner of a business with potentially letable accomodation above can renovate the space for letting for a period of years, (I can't rewmeber how long it needs to be), and finances this by wrtiing off their income tax to pay for the renovations. It can be the full amount of renovations, including building external access.

 

The details are on the HMRC website, it seems a little complex, and there are certian conditions, but it should provide all the appropiate financing required.

 

Thanks