The Business Premises Renovation Allowances Regulations 2007

• Citation: S.I. 2007/945
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Business Premises Renovation Allowances Regulations 2007 and shall come into force on 11th April 2007.

Section 2 Interpretation

In these Regulations “the Act” means the Capital Allowances Act 2001.

Section 3 Designation of areas as disadvantaged areas

The following areas are designated as disadvantaged areas for the purposes of section 360C of the Act (meaning of “ qualifying building ”)—

(a) areas specified as development areas by the Assisted Areas Order 2007 ;

(b) Northern Ireland.

Section 4 Meaning of “qualifying business premises”

(1) For the purposes of Part 3A of the Act (business premises renovation allowances) premises are not qualifying business premises where—

(a) the person entitled to the relevant interest in the premises is carrying on a relevant trade; or

(b) the premises are used, or used in part, for the purposes of such a trade.

(2) In this regulation—

“ relevant interest ” has the meaning given by Chapter 4 of Part 3A of the Act (the relevant interest in the qualifying building);

“ relevant trade ” means a trade in any sector in relation to which Commission Regulation (EC) No 1628/2006 on the application of Articles 87 and 88 of the Treaty to national regional investment aid does not apply by virtue of paragraph 2 of Article 1 of that Regulation.

(3) This regulation applies in relation to part of a trade as it applies in relation to a trade.