New 2% structures and buildings allowance

In last year’s Budget, the Chancellor announced the introduction of a new capital allowance for new commercial structures and buildings, known as the SBA.

The transferrable marriage allowance arrived in 2015 but was widely considered to be a bit of a damp squib as very few couples could claim it and a separate claim needed to be made.

The Annual Investment Allowance allows businesses tax relief on 100% of qualifying expenditure on plant and equipment, and is currently set at £200,000 per annum.

The Chancellor confirmed that the government’s target of reaching a tax-free Personal Allowance of £12,500 and a higher rate tax threshold of £50,000 by 2020 will be met one year early, with those amounts being introduced from April 2019.

The Employment Allowance covers the first £3,000 pa of Employers National Insurance, and is currently available to all but the very smallest employers.

Buy-to-let landlords have been under attack in recent years with the 3% stamp duty surcharge, the restriction of tax relief for mortgage interest, and now changes to letting relief.