Separate old expenditure from new
IBA generally ceased for construction or purchase expenditure incurred after 22 February 2010. Earlier qualifying expenditure can continue until written down, disposal, demolition, destruction or permanent cessation of use, with balancing adjustments where relevant. A building not used as an industrial building at the cut-off generally cannot newly obtain IBA merely by changing use afterward. Temporary disuse has a specified exception. This is not a current general allowance for purchasing industrial premises.
Evidence determines transitional protection
The tables distinguish existing-building purchases, extensions, renovations and new construction. Relevant commitments include purchase options or agreements, engaging a qualified person or contractor and, for specified projects, submitting the development application by 31 December 2010. Qualifying construction costs are subject to project-specific end dates, commonly the earlier of TOP and the final basis-period day for YA 2016. Preserve historical contracts, applications, expenditure dates and remaining balances; do not substitute a recent renovation invoice for the required earlier commitment.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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